Kite Pharma, Inc. (NASDAQ:KITE) was downgraded by stock analysts at SunTrust Banks, Inc. from a “buy” rating to a “hold” rating in a report issued on Monday, Marketbeat Ratings reports.

Other analysts have also recently issued research reports about the company. FBR & Co restated an “outperform” rating and issued a $91.00 price target (up previously from $90.00) on shares of Kite Pharma in a report on Tuesday, May 9th. Canaccord Genuity set a $115.00 price target on Kite Pharma and gave the company a “buy” rating in a report on Tuesday, June 27th. Roth Capital restated a “buy” rating and issued a $93.00 price target on shares of Kite Pharma in a report on Tuesday, July 4th. Jefferies Group LLC lifted their price target on Kite Pharma from $101.00 to $121.00 and gave the company a “buy” rating in a report on Monday, July 10th. Finally, Cowen and Company restated an “outperform” rating on shares of Kite Pharma in a report on Tuesday, July 4th. Fifteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Kite Pharma presently has a consensus rating of “Hold” and a consensus price target of $91.10.

Kite Pharma (KITE) traded up 0.10% during trading on Monday, reaching $178.23. 3,556,343 shares of the company’s stock traded hands. Kite Pharma has a one year low of $39.82 and a one year high of $178.30. The company has a 50-day moving average price of $115.89 and a 200 day moving average price of $87.67. The firm’s market capitalization is $10.19 billion. Kite Pharma also was the recipient of unusually large options trading on Monday. Traders bought 23,676 put options on the company. This represents an increase of approximately 1,264% compared to the typical volume of 1,736 put options.

Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, topping analysts’ consensus estimates of ($1.97) by $0.03. The firm had revenue of $10.10 million during the quarter, compared to analysts’ expectations of $9.59 million. Kite Pharma had a negative return on equity of 59.56% and a negative net margin of 1,117.44%. The firm’s quarterly revenue was up 110.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.91) EPS. On average, analysts anticipate that Kite Pharma will post ($7.96) earnings per share for the current fiscal year.

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In other news, COO Cynthia M. Butitta sold 5,000 shares of Kite Pharma stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $100.81, for a total value of $504,050.00. Following the transaction, the chief operating officer now directly owns 114,845 shares of the company’s stock, valued at approximately $11,577,524.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jeffrey Wiezorek sold 10,000 shares of Kite Pharma stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $104.32, for a total value of $1,043,200.00. Following the completion of the transaction, the senior vice president now directly owns 31,071 shares in the company, valued at $3,241,326.72. The disclosure for this sale can be found here. Insiders sold a total of 266,299 shares of company stock worth $28,364,633 over the last ninety days. Corporate insiders own 14.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. raised its position in Kite Pharma by 17.5% in the second quarter. Ameritas Investment Partners Inc. now owns 4,292 shares of the biopharmaceutical company’s stock valued at $445,000 after buying an additional 638 shares in the last quarter. California State Teachers Retirement System raised its position in Kite Pharma by 0.8% in the second quarter. California State Teachers Retirement System now owns 86,578 shares of the biopharmaceutical company’s stock valued at $8,976,000 after buying an additional 709 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Kite Pharma by 22.9% in the second quarter. The Manufacturers Life Insurance Company now owns 37,773 shares of the biopharmaceutical company’s stock valued at $3,916,000 after buying an additional 7,028 shares in the last quarter. State Street Corp raised its position in Kite Pharma by 14.8% in the second quarter. State Street Corp now owns 1,724,567 shares of the biopharmaceutical company’s stock valued at $178,785,000 after buying an additional 221,895 shares in the last quarter. Finally, Gotham Asset Management LLC purchased a new position in Kite Pharma during the second quarter valued at $552,000. 89.14% of the stock is currently owned by institutional investors and hedge funds.

Kite Pharma Company Profile

Kite Pharma, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products to target and kill cancer cells. The Company offers engineered autologous cell therapy, which is an approach to the treatment of cancer. Its therapy involves modifying a patient’s T cells outside the patient’s body, or ex vivo, causing the T cells to express chimeric antigen receptors (CARs), or T cell receptors (TCRs), and then reinfusing the engineered T cells back into the patient.

Analyst Recommendations for Kite Pharma (NASDAQ:KITE)

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