Kite Pharma, Inc. (KITE) Receives Consensus Recommendation of “Hold” from Brokerages
Kite Pharma, Inc. (NASDAQ:KITE) has received a consensus rating of “Hold” from the twenty-two brokerages that are covering the firm, Marketbeat reports. Thirteen equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $97.80.
A number of research analysts have recently issued reports on the company. SunTrust Banks, Inc. downgraded Kite Pharma from a “buy” rating to a “hold” rating in a report on Monday, August 28th. Wedbush upgraded Kite Pharma from an “underperform” rating to a “neutral” rating in a report on Tuesday, August 29th. BTIG Research downgraded Kite Pharma from a “buy” rating to a “neutral” rating in a report on Monday, August 28th. Jefferies Group LLC reiterated a “buy” rating and issued a $135.00 price target (up from $121.00) on shares of Kite Pharma in a report on Wednesday, August 9th. Finally, Cowen and Company reiterated an “outperform” rating on shares of Kite Pharma in a report on Tuesday, July 4th.
Kite Pharma (NASDAQ:KITE) remained flat at $179.79 during midday trading on Wednesday. The company’s stock had a trading volume of 100 shares. Kite Pharma has a 1-year low of $39.82 and a 1-year high of $179.95. The stock’s market cap is $10.28 billion. The company has a 50-day moving average price of $179.11 and a 200 day moving average price of $115.03.
Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.97) by $0.03. Kite Pharma had a negative return on equity of 59.56% and a negative net margin of 1,117.44%. The business had revenue of $10.10 million for the quarter, compared to the consensus estimate of $9.59 million. During the same period last year, the business posted ($0.91) EPS. The business’s revenue was up 110.4% compared to the same quarter last year. On average, equities analysts predict that Kite Pharma will post ($8.24) EPS for the current year.
In other Kite Pharma news, COO Cynthia M. Butitta sold 4,228 shares of Kite Pharma stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $179.66, for a total transaction of $759,602.48. Following the completion of the sale, the chief operating officer now owns 125,795 shares of the company’s stock, valued at approximately $22,600,329.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Arie Belldegrun sold 26,347 shares of Kite Pharma stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $179.66, for a total value of $4,733,502.02. Following the sale, the chairman now directly owns 135,507 shares of the company’s stock, valued at approximately $24,345,187.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 194,785 shares of company stock valued at $25,776,870. 14.00% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in Kite Pharma by 106,272.1% during the 1st quarter. BlackRock Inc. now owns 3,621,971 shares of the biopharmaceutical company’s stock worth $284,287,000 after acquiring an additional 3,618,566 shares during the period. Bank of Montreal Can lifted its position in Kite Pharma by 17.0% during the 2nd quarter. Bank of Montreal Can now owns 8,898 shares of the biopharmaceutical company’s stock worth $923,000 after acquiring an additional 1,293 shares during the period. Great West Life Assurance Co. Can lifted its position in Kite Pharma by 28.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 5,013 shares of the biopharmaceutical company’s stock worth $392,000 after acquiring an additional 1,100 shares during the period. Teacher Retirement System of Texas acquired a new stake in Kite Pharma during the 1st quarter worth about $282,000. Finally, Fred Alger Management Inc. lifted its position in Kite Pharma by 128.6% during the 2nd quarter. Fred Alger Management Inc. now owns 16,000 shares of the biopharmaceutical company’s stock worth $1,659,000 after acquiring an additional 9,000 shares during the period. 87.72% of the stock is owned by institutional investors.
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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