Kite Pharma Inc. (KITE) Receives “Buy” Rating from Stifel Nicolaus
Kite Pharma Inc. (NASDAQ:KITE)‘s stock had its “buy” rating reissued by equities research analysts at Stifel Nicolaus in a research note issued on Thursday.
A number of other equities research analysts also recently weighed in on the company. Jefferies Group restated a “buy” rating and set a $72.00 target price on shares of Kite Pharma in a research report on Monday. Vetr downgraded Kite Pharma from a “strong-buy” rating to a “buy” rating and set a $63.91 target price for the company. in a research report on Tuesday, September 13th. BTIG Research assumed coverage on Kite Pharma in a research report on Tuesday, August 30th. They set a “neutral” rating for the company. Mizuho set a $80.00 target price on Kite Pharma and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Finally, Barclays PLC set a $60.00 target price on Kite Pharma and gave the stock a “hold” rating in a research report on Tuesday, August 9th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Kite Pharma presently has an average rating of “Buy” and an average price target of $73.93.
Shares of Kite Pharma (NASDAQ:KITE) opened at 55.58 on Thursday. The firm’s 50-day moving average price is $58.57 and its 200-day moving average price is $51.45. The firm’s market capitalization is $2.76 billion. Kite Pharma has a 12 month low of $38.41 and a 12 month high of $89.84.
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Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.91) EPS for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.30. The company had revenue of $4.80 million for the quarter, compared to analyst estimates of $4.86 million. Kite Pharma had a negative return on equity of 32.91% and a negative net margin of 873.86%. The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.26) earnings per share. On average, equities analysts anticipate that Kite Pharma will post ($5.82) earnings per share for the current year.
In other news, COO Cynthia M. Butitta sold 10,000 shares of the company’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $50.94, for a total transaction of $509,400.00. Following the completion of the transaction, the chief operating officer now directly owns 105,401 shares of the company’s stock, valued at $5,369,126.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the company’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $50.00, for a total value of $75,000.00. Following the transaction, the senior vice president now directly owns 16,367 shares of the company’s stock, valued at $818,350. The disclosure for this sale can be found here. Insiders own 20.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of KITE. Geode Capital Management LLC boosted its position in Kite Pharma by 5.4% in the first quarter. Geode Capital Management LLC now owns 282,806 shares of the biopharmaceutical company’s stock valued at $12,983,000 after buying an additional 14,380 shares in the last quarter. Nicholas Investment Partners LP purchased a new position in Kite Pharma during the first quarter valued at $1,340,000. UBS Asset Management Americas Inc. boosted its position in Kite Pharma by 2.8% in the first quarter. UBS Asset Management Americas Inc. now owns 377,578 shares of the biopharmaceutical company’s stock valued at $17,334,000 after buying an additional 10,167 shares in the last quarter. State Street Corp boosted its position in Kite Pharma by 30.6% in the first quarter. State Street Corp now owns 1,332,147 shares of the biopharmaceutical company’s stock valued at $61,162,000 after buying an additional 312,481 shares in the last quarter. Finally, Palisade Capital Management LLC NJ purchased a new position in Kite Pharma during the first quarter valued at $366,000. 75.28% 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 eradicate cancer cells. The Company offers engineered autologous cell therapy (eACT), which is an approach to the treatment of cancer. It is conducting over four pivotal studies of its lead product candidate, KTE-C19, a CAR-based therapy.
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