Kite Pharma’s (KITE) Buy Rating Reiterated at Jefferies Group
Kite Pharma Inc. (NASDAQ:KITE)‘s stock had its “buy” rating reiterated by stock analysts at Jefferies Group in a research note issued on Tuesday. They presently have a $72.00 price objective on the biopharmaceutical company’s stock. Jefferies Group’s target price would suggest a potential upside of 45.45% from the stock’s current price.
Several other research analysts have also recently weighed in 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 raised Kite Pharma from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Tuesday, July 5th. Barclays PLC started coverage on Kite Pharma in a research report on Wednesday, July 6th. They set an “equal weight” rating and a $58.00 price objective for the company. Mizuho reaffirmed a “hold” rating and set a $80.00 price objective on shares of Kite Pharma in a research report on Friday, July 8th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Kite Pharma in a research report on Sunday, July 10th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Kite Pharma presently has an average rating of “Buy” and a consensus price target of $73.03.
Shares of Kite Pharma (NASDAQ:KITE) traded down 1.41% on Tuesday, reaching $48.80. The company’s stock had a trading volume of 612,490 shares. Kite Pharma has a 1-year low of $38.41 and a 1-year high of $89.84. The company’s 50 day moving average is $56.11 and its 200-day moving average is $52.54. The firm’s market cap is $2.42 billion.
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Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, topping the 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 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 company earned ($0.26) earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts expect that Kite Pharma will post ($5.87) EPS for the current year.
In other news, SVP Jeffrey Wiezorek sold 1,500 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $56.90, for a total transaction of $85,350.00. Following the transaction, the senior vice president now owns 16,367 shares in the company, valued at $931,282.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Helen Susan Kim sold 35,900 shares of the stock in a transaction that occurred 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 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 owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Strs Ohio purchased a new position in shares of Kite Pharma during the second quarter worth $120,000. Picton Mahoney Asset Management purchased a new position in shares of Kite Pharma during the second quarter worth $135,000. Howard Hughes Medical Institute raised its position in shares of 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 raised its position in shares of 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. raised its position in shares of 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. Institutional investors own 75.31% of the company’s stock.
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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