Kite Pharma Inc. (KITE) Stock Rating Reaffirmed by Goldman Sachs Group Inc.
Kite Pharma Inc. (NASDAQ:KITE)‘s stock had its “buy” rating reaffirmed by equities researchers at Goldman Sachs Group Inc. in a report released on Monday. They currently have a $70.00 price objective on the biopharmaceutical company’s stock. Goldman Sachs Group Inc.’s target price would indicate a potential upside of 25.63% from the company’s current price.
KITE has been the subject of a number of other reports. 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. Stifel Nicolaus reissued a “buy” rating and set a $74.00 price target on shares of Kite Pharma in a report on Thursday, September 22nd. Barclays PLC boosted their price target on 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 reissued a “neutral” rating on shares of Kite Pharma in a report on Sunday. Finally, Jefferies Group reissued a “buy” rating and set a $72.00 price target on shares of Kite Pharma in a report on Tuesday, September 27th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $72.99.
Kite Pharma (NASDAQ:KITE) opened at 55.72 on Monday. Kite Pharma has a one year low of $38.41 and a one year high of $89.84. The firm’s 50-day moving average price is $57.29 and its 200-day moving average price is $52.12. The company’s market cap is $2.76 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 analysts’ consensus estimates of ($1.21) by $0.30. The firm earned $4.80 million during the quarter, compared to the consensus estimate of $4.86 million. Kite Pharma had a negative return on equity of 32.91% and a negative net margin of 873.86%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.26) EPS. On average, equities research analysts forecast that Kite Pharma will post ($5.87) earnings per share for the current fiscal year.
In other news, COO Cynthia M. Butitta sold 10,000 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $50.94, for a total value of $509,400.00. Following the completion of the sale, the chief operating officer now owns 105,401 shares of the company’s stock, valued at $5,369,126.94. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $56.90, for a total value of $85,350.00. Following the completion of the sale, the senior vice president now directly owns 16,367 shares of the company’s stock, valued at approximately $931,282.30. The disclosure for this sale can be found here. 20.60% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the stock. Capital World Investors raised its stake in shares of Kite Pharma by 46.4% in the second quarter. Capital World Investors now owns 1,523,000 shares of the biopharmaceutical company’s stock valued at $76,150,000 after buying an additional 483,000 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Kite Pharma by 13.6% in the second quarter. JPMorgan Chase & Co. now owns 3,168,056 shares of the biopharmaceutical company’s stock valued at $158,402,000 after buying an additional 379,661 shares during the last quarter. First Republic Investment Management Inc. raised its stake in shares of 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 valued at $33,967,000 after buying an additional 372,034 shares during the last quarter. State Street Corp raised its stake in shares of 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 during the last quarter. Finally, Vivo Capital LLC acquired a new stake in shares of Kite Pharma during the first quarter valued at approximately $8,869,000. 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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