Kite Pharma Inc. (KITE) Stock Rating Reaffirmed by Stifel Nicolaus
Kite Pharma Inc. (NASDAQ:KITE)‘s stock had its “buy” rating reiterated by stock analysts at Stifel Nicolaus in a report issued on Thursday.
KITE has been the subject of a number of other research reports. Mizuho reissued a “buy” rating and issued a $80.00 target price on shares of Kite Pharma in a report on Friday, July 15th. Vetr downgraded Kite Pharma from a “buy” rating to a “hold” rating and set a $53.26 price target for the company. in a research note on Tuesday, July 26th. Cowen and Company reaffirmed a “buy” rating on shares of Kite Pharma in a research note on Monday, June 20th. Barclays PLC set a $60.00 price target on Kite Pharma and gave the stock a “hold” rating in a research note on Tuesday, August 9th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Kite Pharma in a research note on Thursday, June 2nd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $73.93.
Kite Pharma (NASDAQ:KITE) opened at 55.58 on Thursday. The stock’s market cap is $2.76 billion. The firm’s 50-day moving average is $58.57 and its 200 day moving average is $51.45. Kite Pharma has a 52 week low of $38.41 and a 52 week high of $89.84.
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Kite Pharma (NASDAQ:KITE) last released its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.91) EPS for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.30. Kite Pharma had a negative return on equity of 32.91% and a negative net margin of 873.86%. The company earned $4.80 million during the quarter, compared to the consensus estimate of $4.86 million. During the same quarter last year, the company earned ($0.26) earnings per share. Kite Pharma’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts expect that Kite Pharma will post ($5.82) EPS for the current year.
In other news, SVP Jeffrey Wiezorek sold 1,500 shares of the business’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $50.00, for a total transaction of $75,000.00. Following the completion of the sale, the senior vice president now owns 16,367 shares in the company, valued at approximately $818,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Cynthia M. Butitta sold 20,000 shares of the business’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $50.71, for a total value of $1,014,200.00. Following the sale, the chief operating officer now owns 105,401 shares of the company’s stock, valued at approximately $5,344,884.71. The disclosure for this sale can be found here. 20.60% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of KITE. Strs Ohio purchased a new stake in shares of Kite Pharma during the second quarter worth about $120,000. Picton Mahoney Asset Management purchased a new stake in shares of Kite Pharma during the second quarter worth about $135,000. Barclays PLC boosted its stake in shares of Kite Pharma by 28.5% in the first quarter. Barclays PLC now owns 3,563 shares of the biopharmaceutical company’s stock worth $160,000 after buying an additional 790 shares during the last quarter. Howard Hughes Medical Institute boosted its stake in shares of Kite Pharma by 11.3% in the second quarter. Howard Hughes Medical Institute now owns 3,431 shares of the biopharmaceutical company’s stock worth $172,000 after buying an additional 348 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Kite Pharma by 91.9% in the second quarter. BlackRock Inc. now owns 4,022 shares of the biopharmaceutical company’s stock worth $201,000 after buying an additional 1,926 shares during the last quarter. Institutional investors and hedge funds own 75.28% 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 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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