Shares of Kite Pharma Inc. (NASDAQ:KITE) gapped up before the market opened on Thursday . The stock had previously closed at $49.47, but opened at $49.82. Kite Pharma shares last traded at $50.79, with a volume of 249,790 shares changing hands.

Several research firms recently weighed in on KITE. FBR & Co restated a “buy” rating on shares of Kite Pharma in a report on Sunday, April 24th. Jefferies Group reiterated a “buy” rating and issued a $72.00 target price on shares of Kite Pharma in a research note on Saturday, July 9th. Mizuho reiterated a “buy” rating and issued a $80.00 target price on shares of Kite Pharma in a research note on Friday. Stifel Nicolaus increased their target price on Kite Pharma from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, July 13th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $75.00 target price on shares of Kite Pharma in a research note on Wednesday, July 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $73.75.

The company’s market cap is $2.49 billion. The firm’s 50 day moving average price is $50.92 and its 200 day moving average price is $48.77.

Kite Pharma (NASDAQ:KITE) last released its quarterly earnings data on Monday, May 9th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.08) by $0.48. The company had revenue of $5.10 million for the quarter, compared to analyst estimates of $4.61 million. During the same period last year, the firm posted ($0.36) EPS. The business’s quarterly revenue was up 77.1% on a year-over-year basis. On average, analysts expect that Kite Pharma Inc. will post ($5.60) EPS for the current year.

In other news, Director Roy Doumani sold 10,000 shares of the company’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $57.91, for a total value of $579,100.00. Following the transaction, the director now owns 136,017 shares of the company’s stock, valued at approximately $7,876,744.47. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jeffrey Wiezorek sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $50.65, for a total value of $151,950.00. Following the completion of the transaction, the senior vice president now directly owns 16,367 shares in the company, valued at approximately $828,988.55. The disclosure for this sale can be found here.

Other institutional investors have made changes to their positions in the company. Mutual of America Capital Management LLC raised its position in shares of Kite Pharma by 0.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 16,336 shares of the biopharmaceutical company’s stock valued at $1,007,000 after buying an additional 95 shares during the period. Morgan Stanley raised its position in shares of Kite Pharma by 3.5% in the fourth quarter. Morgan Stanley now owns 21,628 shares of the biopharmaceutical company’s stock valued at $1,332,000 after buying an additional 739 shares during the period. California State Teachers Retirement System raised its position in shares of Kite Pharma by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 53,471 shares of the biopharmaceutical company’s stock valued at $3,295,000 after buying an additional 900 shares during the period. Rhumbline Advisers raised its position in shares of Kite Pharma by 10.2% in the fourth quarter. Rhumbline Advisers now owns 28,768 shares of the biopharmaceutical company’s stock valued at $1,773,000 after buying an additional 2,660 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Kite Pharma by 10.2% in the fourth quarter. ProShare Advisors LLC now owns 41,304 shares of the biopharmaceutical company’s stock valued at $2,545,000 after buying an additional 3,807 shares during the period.

Kite Pharma, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products to eradicate cancer cells. The Company offers engineered autologous cell therapy (eACT), which is an approach to the treatment of cancer. It is conducting over four pivotal studies of its lead product candidate, KTE-C19, a CAR-based therapy.

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