Kite Pharma Inc (NASDAQ:KITE)‘s stock had its “neutral” rating reiterated by research analysts at BTIG Research in a research report issued to clients and investors on Friday.

Other equities research analysts also recently issued reports about the stock. Roth Capital set a $83.00 target price on shares of Kite Pharma and gave the company a “buy” rating in a report on Tuesday, February 28th. Maxim Group boosted their target price on shares of Kite Pharma from $77.00 to $84.00 and gave the company a “buy” rating in a report on Wednesday, March 1st. Jefferies Group LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Kite Pharma in a research report on Tuesday, January 24th. HC Wainwright reaffirmed a “buy” rating and set a $85.00 price target (up from $78.00) on shares of Kite Pharma in a research report on Wednesday, February 22nd. Finally, Canaccord Genuity set a $75.00 price target on shares of Kite Pharma and gave the company a “buy” rating in a research report on Tuesday, February 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. Kite Pharma has a consensus rating of “Hold” and an average target price of $80.97.

Analyst Recommendations for Kite Pharma (NASDAQ:KITE)

Shares of Kite Pharma (NASDAQ:KITE) traded down 2.46% during trading on Friday, hitting $70.71. 871,055 shares of the stock traded hands. Kite Pharma has a 52-week low of $39.82 and a 52-week high of $88.58. The company’s 50 day moving average is $78.25 and its 200 day moving average is $61.83. The firm’s market cap is $4.00 billion.

Kite Pharma (NASDAQ:KITE) last released its earnings results on Monday, May 8th. The biopharmaceutical company reported ($1.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by $0.06. Kite Pharma had a negative net margin of 994.89% and a negative return on equity of 39.26%. The company had revenue of $9.80 million during the quarter, compared to analysts’ expectations of $8.85 million. During the same quarter in the previous year, the firm posted ($0.60) earnings per share. Kite Pharma’s revenue for the quarter was up 92.2% compared to the same quarter last year. On average, equities research analysts predict that Kite Pharma will post ($8.16) EPS for the current year.

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In related news, COO Cynthia M. Butitta sold 10,000 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $54.42, for a total value of $544,200.00. Following the sale, the chief operating officer now directly owns 127,795 shares of the company’s stock, valued at $6,954,603.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roy Doumani sold 18,800 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $74.46, for a total transaction of $1,399,848.00. Following the completion of the sale, the director now directly owns 121,017 shares in the company, valued at $9,010,925.82. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 70,450 shares of company stock worth $4,863,126 and sold 540,558 shares worth $42,856,932. Corporate insiders own 20.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. boosted its stake in Kite Pharma by 235.0% in the first quarter. Point72 Asset Management L.P. now owns 819,900 shares of the biopharmaceutical company’s stock valued at $64,354,000 after buying an additional 575,178 shares in the last quarter. Credit Suisse AG boosted its stake in Kite Pharma by 35.9% in the first quarter. Credit Suisse AG now owns 130,758 shares of the biopharmaceutical company’s stock valued at $10,263,000 after buying an additional 34,560 shares in the last quarter. Bank of America Corp DE boosted its stake in Kite Pharma by 119.6% in the first quarter. Bank of America Corp DE now owns 46,150 shares of the biopharmaceutical company’s stock valued at $3,622,000 after buying an additional 25,135 shares in the last quarter. Omega Advisors Inc. bought a new stake in Kite Pharma during the first quarter valued at about $4,220,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in Kite Pharma by 9.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 190,474 shares of the biopharmaceutical company’s stock valued at $14,951,000 after buying an additional 17,132 shares in the last quarter. 80.73% of the stock is currently owned by hedge funds and other 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 target and kill cancer cells. The Company offers engineered autologous cell therapy, which is an approach to the treatment of cancer. Its therapy involves modifying a patient’s T cells outside the patient’s body, or ex vivo, causing the T cells to express chimeric antigen receptors (CARs), or T cell receptors (TCRs), and then reinfusing the engineered T cells back into the patient.

12 Month Chart for NASDAQ:KITE

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