BTIG Research Reiterates Neutral Rating for Kite Pharma Inc. (KITE)
Kite Pharma Inc. (NASDAQ:KITE)‘s stock had its “neutral” rating reissued by analysts at BTIG Research in a research note issued on Sunday.
Several other analysts have also recently issued reports on KITE. Cowen and Company reaffirmed a “buy” rating on shares of Kite Pharma in a research report on Monday, June 20th. Zacks Investment Research upgraded Kite Pharma from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Tuesday, July 5th. Barclays PLC began coverage on Kite Pharma in a report on Wednesday, July 6th. They set an “equal weight” rating and a $58.00 price objective for the company. Mizuho reiterated a “hold” rating and set a $80.00 price objective on shares of Kite Pharma in a report on Friday, July 8th. Finally, FBR & Co reiterated an “outperform” rating and set a $75.00 price objective on shares of Kite Pharma in a report on Sunday, July 10th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $74.46.
Kite Pharma (NASDAQ:KITE) traded up 0.11% during mid-day trading on Friday, reaching $55.72. The company’s stock had a trading volume of 1,130,601 shares. The company’s market capitalization is $2.76 billion. Kite Pharma has a one year low of $38.41 and a one year high of $89.84. The stock has a 50-day moving average price of $57.29 and a 200-day moving average price of $52.12.
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Kite Pharma (NASDAQ:KITE) last announced its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.21) by $0.30. The business had revenue of $4.80 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.26) EPS. Equities research analysts forecast that Kite Pharma will post ($5.87) EPS for the current year.
In other news, SVP Jeffrey Wiezorek sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $54.81, for a total transaction of $82,215.00. Following the sale, the senior vice president now directly owns 17,311 shares in the company, valued at approximately $948,815.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Cynthia M. Butitta sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $54.13, for a total value of $541,300.00. Following the sale, the chief operating officer now owns 105,477 shares in the company, valued at $5,709,470.01. The disclosure for this sale can be found here. Insiders own 20.60% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Strs Ohio acquired a new stake in Kite Pharma during the second quarter worth approximately $120,000. Picton Mahoney Asset Management acquired a new stake in Kite Pharma during the second quarter worth approximately $135,000. Howard Hughes Medical Institute boosted 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 worth $172,000 after buying an additional 348 shares during the period. BNP Paribas Arbitrage SA boosted 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 worth $184,000 after buying an additional 1,768 shares during the period. Finally, BlackRock Inc. boosted 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 worth $201,000 after buying an additional 1,926 shares during the period. Hedge funds and other institutional investors 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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