Q3 2017 EPS Estimates for Kite Pharma, Inc. (NASDAQ:KITE) Lifted by Wedbush
Kite Pharma, Inc. (NASDAQ:KITE) – Investment analysts at Wedbush boosted their Q3 2017 EPS estimates for shares of Kite Pharma in a research note issued on Wednesday. Wedbush analyst D. Nierengarten now forecasts that the biopharmaceutical company will earn ($2.03) per share for the quarter, up from their prior forecast of ($2.14). Wedbush has a “Underperform” rating and a $54.00 price objective on the stock. Wedbush also issued estimates for Kite Pharma’s Q4 2017 earnings at ($2.00) EPS, FY2017 earnings at ($7.71) EPS, Q1 2018 earnings at ($1.90) EPS, Q2 2018 earnings at ($1.76) EPS, Q3 2018 earnings at ($1.83) EPS, Q4 2018 earnings at ($1.82) EPS, FY2018 earnings at ($7.31) EPS, FY2019 earnings at ($5.62) EPS, FY2020 earnings at ($1.51) EPS and FY2021 earnings at $0.30 EPS.
A number of other analysts also recently issued reports on KITE. UBS AG downgraded Kite Pharma from an “outperform” rating to a “market perform” rating in a research report on Monday, May 8th. Canaccord Genuity set a $120.00 price target on Kite Pharma and gave the company a “buy” rating in a research report on Wednesday. Vetr downgraded Kite Pharma from a “buy” rating to a “hold” rating and set a $116.82 price target for the company. in a research report on Monday. Jefferies Group LLC reiterated a “buy” rating and set a $135.00 price target (up previously from $121.00) on shares of Kite Pharma in a research report on Wednesday. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $74.00 price target on shares of Kite Pharma in a research report on Thursday. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Kite Pharma has an average rating of “Hold” and a consensus target price of $88.93.
Kite Pharma (NASDAQ:KITE) opened at 120.60 on Friday. Kite Pharma has a 12-month low of $39.82 and a 12-month high of $122.19. The company’s market cap is $6.83 billion. The stock has a 50 day moving average of $107.08 and a 200-day moving average of $81.31.
Kite Pharma (NASDAQ:KITE) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) 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 analysts’ expectations of $9.59 million. Kite Pharma had a negative net margin of 1,117.44% and a negative return on equity of 59.56%. The business’s revenue for the quarter was up 110.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.91) earnings per share.
In other Kite Pharma news, COO Cynthia M. Butitta sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $100.81, for a total value of $504,050.00. Following the completion of the sale, the chief operating officer now owns 114,845 shares in the company, valued at $11,577,524.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Cynthia M. Butitta sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $88.55, for a total value of $885,500.00. Following the completion of the sale, the chief operating officer now owns 127,795 shares of the company’s stock, valued at approximately $11,316,247.25. The disclosure for this sale can be found here. Insiders sold 245,048 shares of company stock valued at $25,803,151 in the last quarter. Corporate insiders own 14.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Winslow Evans & Crocker Inc. bought a new stake in shares of Kite Pharma during the second quarter valued at $124,000. Baillie Gifford & Co. bought a new stake in shares of Kite Pharma during the first quarter valued at $201,000. Comerica Bank bought a new stake in shares of Kite Pharma during the second quarter valued at $201,000. Turner Investments LLC bought a new stake in shares of Kite Pharma during the first quarter valued at $235,000. Finally, Capital Investment Advisory Services LLC bought a new stake in shares of Kite Pharma during the second quarter valued at $238,000. Hedge funds and other institutional investors 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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