Kite Pharma, Inc. to Post Q3 2017 Earnings of ($2.19) Per Share, SunTrust Banks Forecasts (KITE)
Kite Pharma, Inc. (NASDAQ:KITE) – Equities researchers at SunTrust Banks increased their Q3 2017 EPS estimates for shares of Kite Pharma in a research report issued on Tuesday. SunTrust Banks analyst P. Lawson now expects that the biopharmaceutical company will post earnings of ($2.19) per share for the quarter, up from their previous forecast of ($2.27). SunTrust Banks also issued estimates for Kite Pharma’s Q4 2017 earnings at ($2.46) EPS, FY2017 earnings at ($8.36) EPS, FY2018 earnings at ($8.68) EPS and FY2019 earnings at ($5.08) EPS.
Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $9.59 million. Kite Pharma had a negative return on equity of 63.28% and a negative net margin of 1,117.44%. The company’s quarterly revenue was up 110.4% on a year-over-year basis. During the same period last year, the company earned ($0.91) EPS.
Several other equities research analysts have also commented on KITE. UBS AG lowered Kite Pharma from an “outperform” rating to a “market perform” rating in a research note on Monday, May 8th. Stifel Nicolaus restated a “hold” rating and set a $74.00 price target on shares of Kite Pharma in a research note on Thursday. Canaccord Genuity set a $120.00 price target on Kite Pharma and gave the stock a “buy” rating in a research note on Wednesday. Vetr lowered Kite Pharma from a “buy” rating to a “hold” rating and set a $116.82 price target for the company. in a research note on Monday. Finally, Jefferies Group LLC restated a “buy” rating and set a $135.00 price target (up from $121.00) on shares of Kite Pharma in a research note on Wednesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $88.93.
Shares of Kite Pharma (NASDAQ KITE) opened at 120.98 on Thursday. The firm’s market capitalization is $6.84 billion. The company’s 50 day moving average price is $106.31 and its 200-day moving average price is $81.02. Kite Pharma has a 12 month low of $39.82 and a 12 month high of $122.19.
In other Kite Pharma news, EVP Timothy L. Moore sold 6,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $110.06, for a total transaction of $660,360.00. Following the transaction, the executive vice president now owns 55,400 shares of the company’s stock, valued at approximately $6,097,324. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Helen Susan Kim sold 26,649 shares of the stock in a transaction that occurred 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 directly owns 28,763 shares in the company, valued at approximately $3,143,220.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 165,099 shares of company stock worth $16,244,448. 14.00% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Winslow Evans & Crocker Inc. bought a new stake in shares of Kite Pharma during the second quarter worth $124,000. Baillie Gifford & Co. bought a new stake in shares of Kite Pharma during the first quarter worth $201,000. Comerica Bank bought a new stake in shares of Kite Pharma during the second quarter worth $201,000. Turner Investments LLC bought a new stake in shares of Kite Pharma during the first quarter worth $235,000. Finally, Capital Investment Advisory Services LLC bought a new stake in shares of Kite Pharma during the second quarter worth $238,000. Institutional investors and hedge funds own 84.96% of the company’s stock.
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 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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