Kite Pharma Inc (KITE) Earns Buy Rating from HC Wainwright
Kite Pharma Inc (NASDAQ:KITE)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued on Friday. They presently have a $85.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 17.26% from the stock’s previous close.
Other analysts also recently issued research reports about the company. Roth Capital set a $83.00 price target on Kite Pharma and gave the stock a “buy” rating in a report on Tuesday, February 28th. Maxim Group raised their price target on Kite Pharma from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, March 1st. Jefferies Group LLC reaffirmed a “buy” rating and set a $72.00 target price on shares of Kite Pharma in a research note on Tuesday, January 24th. Canaccord Genuity set a $75.00 target price on Kite Pharma and gave the company a “buy” rating in a research note on Tuesday, February 28th. Finally, Standpoint Research reaffirmed a “buy” rating and set a $85.00 target price on shares of Kite Pharma in a research note on Tuesday, February 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $80.97.
Kite Pharma (NASDAQ:KITE) traded down 2.46% during midday trading on Friday, hitting $70.71. The stock had a trading volume of 871,055 shares. The firm’s market cap is $4.00 billion. Kite Pharma has a one year low of $39.82 and a one year high of $88.58. The stock has a 50-day moving average price of $78.46 and a 200 day moving average price of $61.64.
Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($1.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.68) by $0.06. The company had revenue of $9.80 million during the quarter, compared to the consensus estimate of $8.85 million. Kite Pharma had a negative return on equity of 39.26% and a negative net margin of 994.89%. The company’s revenue for the quarter was up 92.2% on a year-over-year basis. During the same period last year, the business posted ($0.60) EPS. On average, analysts predict that Kite Pharma will post ($8.16) earnings per share for the current year.
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In related news, COO Cynthia M. Butitta sold 10,000 shares of Kite Pharma stock in a transaction on Monday, February 27th. The stock was sold at an average price of $54.42, for a total value of $544,200.00. Following the transaction, the chief operating officer now directly owns 127,795 shares in the company, valued at approximately $6,954,603.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roy Doumani sold 18,800 shares of Kite Pharma stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $74.46, for a total value of $1,399,848.00. Following the completion of the transaction, the director now 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 90 days, insiders purchased 70,450 shares of company stock worth $4,863,126 and sold 540,558 shares worth $42,856,932. Insiders own 20.60% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Seven Eight Capital LP bought a new position in shares of Kite Pharma during the fourth quarter worth about $197,000. Baillie Gifford & Co. bought a new position in shares of Kite Pharma during the first quarter worth about $201,000. BlackRock Inc. boosted its position in shares of Kite Pharma by 2.2% in the third quarter. BlackRock Inc. now owns 4,112 shares of the biopharmaceutical company’s stock worth $229,000 after buying an additional 90 shares during the last quarter. Turner Investments LLC bought a new position in shares of Kite Pharma during the first quarter worth about $235,000. Finally, Opus Point Partners Management LLC bought a new position in shares of Kite Pharma during the fourth quarter worth about $241,000. Institutional investors and hedge funds own 80.73% 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 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.
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