Kite Pharma’s (KITE) Buy Rating Reaffirmed at Jefferies Group LLC
Kite Pharma, Inc. (NASDAQ:KITE)‘s stock had its “buy” rating restated by analysts at Jefferies Group LLC in a report released on Wednesday. They currently have a $135.00 price objective on the biopharmaceutical company’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 11.59% from the company’s previous close.
Several other equities research analysts also recently issued reports on the company. Goldman Sachs Group, Inc. (The) increased their target price on Kite Pharma from $85.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. Vetr downgraded Kite Pharma from a “buy” rating to a “hold” rating and set a $83.76 target price on the stock. in a research report on Monday, April 17th. Canaccord Genuity set a $115.00 target price on Kite Pharma and gave the stock a “buy” rating in a research report on Monday, July 10th. Wedbush downgraded Kite Pharma from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $60.00 to $54.00 in a research report on Tuesday, May 9th. Finally, ValuEngine upgraded Kite Pharma from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $88.43.
Kite Pharma (KITE) traded up 0.71% during trading on Wednesday, reaching $120.98. The company’s stock had a trading volume of 1,347,133 shares. The company’s market cap is $6.84 billion. Kite Pharma has a 12 month low of $39.82 and a 12 month high of $121.91. The stock’s 50 day moving average is $101.96 and its 200 day moving average is $78.58.
Kite Pharma (NASDAQ:KITE) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.97) by $0.03. The firm had revenue of $10.10 million for the quarter, compared to the consensus estimate of $9.59 million. Kite Pharma had a negative return on equity of 55.80% and a negative net margin of 1,166.54%. The business’s quarterly revenue was up 110.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.91) earnings per share. On average, equities analysts expect that Kite Pharma will post ($8.36) EPS for the current fiscal year.
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In related news, EVP Helen Susan Kim sold 26,649 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $109.28, for a total value of $2,912,202.72. Following the transaction, the executive vice president now owns 28,763 shares of the company’s stock, valued at $3,143,220.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy L. Moore sold 6,000 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $110.06, for a total value of $660,360.00. Following the completion of the transaction, the executive vice president now directly owns 55,400 shares in the company, valued at approximately $6,097,324. The disclosure for this sale can be found here. In the last three months, insiders sold 165,099 shares of company stock worth $16,244,448. 14.00% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sheaff Brock Investment Advisors LLC purchased a new position in Kite Pharma during the second quarter worth approximately $238,000. Principal Financial Group Inc. boosted its position in Kite Pharma by 637.7% in the second quarter. Principal Financial Group Inc. now owns 53,730 shares of the biopharmaceutical company’s stock worth $5,570,000 after buying an additional 46,447 shares in the last quarter. Pacer Advisors Inc. boosted its position in Kite Pharma by 22.7% in the second quarter. Pacer Advisors Inc. now owns 5,851 shares of the biopharmaceutical company’s stock worth $607,000 after buying an additional 1,083 shares in the last quarter. Prudential Financial Inc. boosted its position in Kite Pharma by 26.3% in the second quarter. Prudential Financial Inc. now owns 5,000 shares of the biopharmaceutical company’s stock worth $518,000 after buying an additional 1,040 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in 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 worth $2,501,000 after buying an additional 2,164 shares in the last quarter. 84.96% 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.
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