Kite Pharma Inc. (KITE) Upgraded at Vetr Inc.
Kite Pharma Inc. (NASDAQ:KITE) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a report released on Wednesday. The firm presently has a $64.48 price target on the biopharmaceutical company’s stock. Vetr‘s target price would indicate a potential upside of 24.82% from the stock’s previous close.
Several other research firms have also recently issued reports on KITE. Jefferies Group reiterated a “buy” rating and set a $72.00 target price on shares of Kite Pharma in a research report on Tuesday, September 27th. BTIG Research initiated coverage on Kite Pharma in a research report on Tuesday, August 30th. They set a “neutral” rating on the stock. Mizuho reiterated a “buy” rating and set a $80.00 target price on shares of Kite Pharma in a research report on Friday, July 22nd. Stifel Nicolaus set a $74.00 target price on Kite Pharma and gave the stock a “buy” rating in a research report on Thursday, October 6th. Finally, Zacks Investment Research upgraded Kite Pharma from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Tuesday, July 5th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $73.03.
Kite Pharma (NASDAQ:KITE) traded down 6.70% during midday trading on Wednesday, reaching $51.66. The company’s stock had a trading volume of 817,909 shares. Kite Pharma has a 52 week low of $38.41 and a 52 week high of $89.84. The stock’s market capitalization is $2.56 billion. The firm’s 50-day moving average price is $56.79 and its 200-day moving average price is $52.36.
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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 (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 company had revenue of $4.80 million for the quarter, compared to analysts’ expectations of $4.86 million. During the same quarter in the previous year, the firm posted ($0.26) EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts anticipate that Kite Pharma will post ($5.87) earnings per share for the current year.
In other Kite Pharma news, COO Cynthia M. Butitta sold 10,000 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $50.94, for a total transaction of $509,400.00. Following the transaction, the chief operating officer now owns 105,401 shares of the company’s stock, valued at approximately $5,369,126.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Helen Susan Kim sold 35,900 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $60.27, for a total value of $2,163,693.00. Following the transaction, 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. Company insiders own 20.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of KITE. Capital World Investors raised its position 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 worth $76,150,000 after buying an additional 483,000 shares in the last quarter. JPMorgan Chase & Co. raised its position 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 worth $158,402,000 after buying an additional 379,661 shares in the last quarter. First Republic Investment Management Inc. raised its position 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 worth $33,967,000 after buying an additional 372,034 shares in the last quarter. State Street Corp raised its position 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 worth $61,162,000 after buying an additional 312,481 shares in the last quarter. Finally, Vivo Capital LLC acquired a new position in shares of Kite Pharma during the first quarter worth $8,869,000. 75.28% of the stock is currently 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.
To view Vetr’s full report, visit Vetr’s official website.
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