Kite Pharma Inc. (KITE) Receives “Neutral” Rating from BTIG Research
Kite Pharma Inc. (NASDAQ:KITE)‘s stock had its “neutral” rating reiterated by stock analysts at BTIG Research in a report issued on Sunday.
Several other brokerages also recently issued reports on KITE. Jefferies Group restated a “buy” rating and set a $72.00 price objective on shares of Kite Pharma in a research report on Tuesday, September 27th. Mizuho reiterated a “buy” rating and issued a $80.00 price target on shares of Kite Pharma in a report on Friday, July 22nd. Stifel Nicolaus set a $74.00 price target on Kite Pharma and gave the company a “buy” rating in a report on Thursday. Zacks Investment Research upgraded Kite Pharma from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Tuesday, July 5th. Finally, Vetr downgraded Kite Pharma from a “hold” rating to a “sell” rating and set a $53.26 price target for the company. in a report on Monday, August 1st. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $74.46.
Shares of Kite Pharma (NASDAQ:KITE) traded up 0.11% during mid-day trading on Friday, hitting $55.72. The stock had a trading volume of 1,130,601 shares. The stock’s market cap is $2.76 billion. Kite Pharma has a 12-month low of $38.41 and a 12-month high of $89.84. The company’s 50 day moving average price is $57.29 and its 200 day moving average price is $52.12.
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Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm earned $4.80 million during the quarter, compared to the consensus estimate of $4.86 million. During the same period in the previous year, the firm posted ($0.26) EPS. The company’s quarterly 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 Kite Pharma news, COO Cynthia M. Butitta sold 10,000 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $50.94, for a total value 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 approximately $5,369,126.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the company’s 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 completion of the transaction, the senior vice president now directly owns 16,367 shares of the company’s stock, valued at $931,282.30. The disclosure for this sale can be found here. Corporate insiders own 20.60% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Capital World Investors boosted its position in Kite Pharma by 46.4% in the second quarter. Capital World Investors now owns 1,523,000 shares of the biopharmaceutical company’s stock worth $76,150,000 after buying an additional 483,000 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Kite Pharma by 13.6% in the second quarter. JPMorgan Chase & Co. now owns 3,168,056 shares of the biopharmaceutical company’s stock worth $158,402,000 after buying an additional 379,661 shares during the last quarter. First Republic Investment Management Inc. boosted its position in Kite Pharma by 101.1% in the first quarter. First Republic Investment Management Inc. now owns 739,867 shares of the biopharmaceutical company’s stock worth $33,967,000 after buying an additional 372,034 shares during 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 worth $61,162,000 after buying an additional 312,481 shares during the last quarter. Finally, Vivo Capital LLC purchased a new position in Kite Pharma during the first quarter worth $8,869,000. 75.28% of the stock is owned by institutional investors.
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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