Kite Pharma Inc. (KITE) Given “Buy” Rating at Stifel Nicolaus
Other equities research analysts have also issued reports about the stock. Mizuho reissued a buy rating and set a $80.00 price objective on shares of Kite Pharma in a report on Friday, July 15th. Vetr lowered shares of Kite Pharma from a buy rating to a hold rating and set a $53.26 price objective on the stock. in a report on Tuesday, July 26th. Cowen and Company reissued a buy rating on shares of Kite Pharma in a report on Monday, June 20th. Barclays PLC set a $60.00 price objective on shares of Kite Pharma and gave the company a hold rating in a report on Tuesday, August 9th. Finally, FBR & Co reissued a buy rating on shares of Kite Pharma in a report on Thursday, June 2nd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $73.93.
Kite Pharma (NASDAQ:KITE) traded down 2.20% during midday trading on Thursday, reaching $53.72. The company’s stock had a trading volume of 252,624 shares. The stock’s 50 day moving average price is $58.45 and its 200-day moving average price is $51.48. The stock’s market cap is $2.66 billion. Kite Pharma has a one year low of $38.41 and a one year high of $89.84.
Kite Pharma (NASDAQ:KITE) last released its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.21) by $0.30. Kite Pharma had a negative net margin of 873.86% and a negative return on equity of 32.91%. The business had revenue of $4.80 million for the quarter, compared to analyst estimates of $4.86 million. During the same period in the previous year, the company earned ($0.26) earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts forecast that Kite Pharma will post ($5.82) EPS for the current fiscal year.
In related news, EVP Helen Susan Kim sold 35,900 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $60.27, for a total transaction of $2,163,693.00. Following the completion of the transaction, the executive vice president now owns 42,500 shares in the company, valued at approximately $2,561,475. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Cynthia M. Butitta sold 20,000 shares of the company’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $50.71, for a total transaction of $1,014,200.00. Following the transaction, the chief operating officer now owns 105,401 shares of the company’s stock, valued at approximately $5,344,884.71. The disclosure for this sale can be found here. 20.60% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in Kite Pharma during the second quarter valued at $120,000. Picton Mahoney Asset Management bought a new position in Kite Pharma during the second quarter valued at $135,000. Howard Hughes Medical Institute increased its position in Kite Pharma by 11.3% in the second quarter. Howard Hughes Medical Institute now owns 3,431 shares of the biopharmaceutical company’s stock valued at $172,000 after buying an additional 348 shares during the period. BlackRock Inc. increased its position in Kite Pharma by 91.9% in the second quarter. BlackRock Inc. now owns 4,022 shares of the biopharmaceutical company’s stock valued at $201,000 after buying an additional 1,926 shares during the period. Finally, Amalgamated Bank bought a new position in Kite Pharma during the second quarter valued at $243,000. Hedge funds and other institutional investors own 75.28% of the company’s stock.
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 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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