Kite Pharma Inc. (KITE) Given a $74.00 Price Target by Stifel Nicolaus Analysts
Kite Pharma Inc. (NASDAQ:KITE) received a $74.00 price target from equities research analysts at Stifel Nicolaus in a research note issued to investors on Thursday. The brokerage presently has a a “buy” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 32.95% from the company’s current price.
KITE has been the subject of a number of other reports. Vetr downgraded shares of 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. Barclays PLC raised their price objective on shares of Kite Pharma from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 27th. BTIG Research began coverage on shares of Kite Pharma in a report on Tuesday, August 30th. They issued a “neutral” rating for the company. Jefferies Group reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Kite Pharma in a report on Tuesday, September 27th. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $75.00 price objective on shares of Kite Pharma in a report on Sunday, July 10th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Kite Pharma has a consensus rating of “Buy” and an average target price of $74.46.
Shares of Kite Pharma (NASDAQ:KITE) traded up 0.29% on Thursday, hitting $55.82. 910,841 shares of the stock traded hands. The stock has a 50-day moving average price of $57.42 and a 200 day moving average price of $52.05. Kite Pharma has a 52 week low of $38.41 and a 52 week high of $89.84. The firm’s market cap is $2.77 billion.
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Kite Pharma (NASDAQ:KITE) last released its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.21) by $0.30. Kite Pharma had a negative net margin of 873.86% and a negative return on equity of 32.91%. The firm earned $4.80 million during the quarter, compared to the consensus estimate of $4.86 million. During the same period in the prior year, the firm earned ($0.26) EPS. The company’s revenue was up 9.1% compared to the same quarter last year. Equities research analysts predict that Kite Pharma will post ($5.87) EPS for the current fiscal year.
In other news, SVP Jeffrey Wiezorek sold 1,500 shares of Kite Pharma stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $56.90, for a total transaction of $85,350.00. Following the sale, the senior vice president now owns 16,367 shares of the company’s stock, valued at approximately $931,282.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Helen Susan Kim sold 35,900 shares of Kite Pharma stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $60.27, for a total transaction of $2,163,693.00. Following the sale, the executive vice president now directly owns 42,500 shares in the company, valued at approximately $2,561,475. The disclosure for this sale can be found here. 20.60% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of KITE. Strs Ohio acquired a new stake in Kite Pharma during the second quarter valued at approximately $120,000. Picton Mahoney Asset Management acquired a new stake in Kite Pharma during the second quarter valued at approximately $135,000. Howard Hughes Medical Institute raised its stake in Kite Pharma by 11.3% in the second quarter. Howard Hughes Medical Institute now owns 3,431 shares of the biopharmaceutical company’s stock valued at $172,000 after buying an additional 348 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Kite Pharma by 115.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,301 shares of the biopharmaceutical company’s stock valued at $184,000 after buying an additional 1,768 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Kite Pharma by 91.9% in the second quarter. BlackRock Inc. now owns 4,022 shares of the biopharmaceutical company’s stock valued at $201,000 after buying an additional 1,926 shares during the last quarter. 75.28% of the stock is currently owned by institutional investors and hedge funds.
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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