Kite Pharma, Inc. (NASDAQ:KITE) Given a $120.00 Price Target by Canaccord Genuity Analysts
Kite Pharma, Inc. (NASDAQ:KITE) received a $120.00 price objective from equities research analysts at Canaccord Genuity in a research report issued on Wednesday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s price target suggests a potential downside of 0.11% from the stock’s current price.
A number of other brokerages have also recently weighed in on KITE. FBR & Co reissued an “outperform” rating and issued a $91.00 price target (up previously from $90.00) on shares of Kite Pharma in a research note on Tuesday, May 9th. Roth Capital reissued a “buy” rating and issued a $93.00 price target on shares of Kite Pharma in a research note on Tuesday, July 4th. Jefferies Group LLC lifted their price target on Kite Pharma from $101.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Cowen and Company reissued an “outperform” rating on shares of Kite Pharma in a research note on Tuesday, July 4th. Finally, Vetr raised Kite Pharma from a “strong sell” rating to a “strong-buy” rating and set a $116.82 price target on the stock in a research note on Monday, July 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $87.66.
Shares of Kite Pharma (NASDAQ KITE) traded down 0.04% during mid-day trading on Wednesday, hitting $120.08. 200,200 shares of the stock traded hands. The stock has a 50-day moving average of $103.84 and a 200 day moving average of $79.27. Kite Pharma has a one year low of $39.82 and a one year high of $120.20. The stock’s market cap is $6.79 billion.
Kite Pharma (NASDAQ:KITE) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.97) by $0.03. The firm had revenue of $10.10 million for the quarter, compared to analyst estimates of $9.59 million. Kite Pharma had a negative return on equity of 55.80% and a negative net margin of 1,166.54%. Kite Pharma’s revenue was up 110.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.91) earnings per share. Equities analysts predict that Kite Pharma will post ($8.36) EPS 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 transaction of $504,050.00. Following the completion of the sale, the chief operating officer now directly owns 114,845 shares in the company, valued at approximately $11,577,524.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Cynthia M. Butitta sold 10,000 shares of Kite Pharma stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $88.55, for a total value of $885,500.00. Following the sale, the chief operating officer now owns 127,795 shares of the company’s stock, valued at $11,316,247.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,099 shares of company stock valued at $16,244,448. 14.00% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its stake in shares of Kite Pharma by 637.7% in the second quarter. Principal Financial Group Inc. now owns 53,730 shares of the biopharmaceutical company’s stock valued at $5,570,000 after buying an additional 46,447 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Kite Pharma by 22.7% in the second quarter. Pacer Advisors Inc. now owns 5,851 shares of the biopharmaceutical company’s stock valued at $607,000 after buying an additional 1,083 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Kite Pharma by 26.3% in the second quarter. Prudential Financial Inc. now owns 5,000 shares of the biopharmaceutical company’s stock valued at $518,000 after buying an additional 1,040 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Kite Pharma by 9.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 24,127 shares of the biopharmaceutical company’s stock valued at $2,501,000 after buying an additional 2,164 shares in the last quarter. Finally, Turner Investments LLC raised its stake in shares of Kite Pharma by 113.3% in the second quarter. Turner Investments LLC now owns 6,400 shares of the biopharmaceutical company’s stock valued at $663,000 after buying an additional 3,400 shares in the last quarter. Institutional investors and hedge funds own 84.96% 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 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.
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