Kite Pharma Inc. (KITE) Given Buy Rating at Jefferies Group
Jefferies Group reissued their buy rating on shares of Kite Pharma Inc. (NASDAQ:KITE) in a research note issued to investors on Monday. They currently have a $72.00 price target on the biopharmaceutical company’s stock.
Other equities analysts also recently issued reports about the company. Zacks Investment Research raised Kite Pharma from a hold rating to a buy rating and set a $57.00 price target on the stock in a research report on Tuesday, July 5th. Cowen and Company reaffirmed a buy rating on shares of Kite Pharma in a research report on Monday, June 20th. Mizuho reaffirmed a buy rating and set a $80.00 price target on shares of Kite Pharma in a research report on Wednesday, June 8th. Canaccord Genuity reaffirmed a buy rating on shares of Kite Pharma in a research report on Monday, June 6th. Finally, Stifel Nicolaus reaffirmed a buy rating on shares of Kite Pharma in a research report on Monday, June 6th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $73.93.
Kite Pharma (NASDAQ:KITE) opened at 54.93 on Monday. The stock’s market capitalization is $2.72 billion. Kite Pharma has a 52-week low of $38.41 and a 52-week high of $89.84. The company’s 50-day moving average price is $58.45 and its 200 day moving average price is $51.48.
Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.30. The business had revenue of $4.80 million for the quarter, compared to the consensus estimate of $4.86 million. Kite Pharma had a negative return on equity of 32.91% and a negative net margin of 873.86%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.26) earnings per share. On average, equities research analysts predict that Kite Pharma will post ($5.82) earnings per share for the current fiscal year.
In other news, COO Cynthia M. Butitta sold 10,000 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $50.94, for a total transaction of $509,400.00. Following the sale, the chief operating officer now directly owns 105,401 shares of the company’s stock, valued at approximately $5,369,126.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $58.24, for a total transaction of $87,360.00. The disclosure for this sale can be found here. Insiders own 20.60% of the company’s stock.
Large investors have recently bought and sold shares of the company. Strs Ohio purchased a new stake in Kite Pharma during the second quarter valued at about $120,000. Picton Mahoney Asset Management bought a new position in shares of Kite Pharma during the second quarter worth $135,000. Howard Hughes Medical Institute raised its position in shares of Kite Pharma by 11.3% in the second quarter. Howard Hughes Medical Institute now owns 3,431 shares of the biopharmaceutical company’s stock worth $172,000 after buying an additional 348 shares in the last quarter. BlackRock Inc. raised its position in shares of Kite Pharma by 91.9% in the second quarter. BlackRock Inc. now owns 4,022 shares of the biopharmaceutical company’s stock worth $201,000 after buying an additional 1,926 shares in the last quarter. Finally, Amalgamated Bank bought a new position in shares of Kite Pharma during the second quarter worth $243,000. 75.28% of the stock is currently owned by institutional investors and hedge funds.
About Kite Pharma
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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