Brokers Issue Forecasts for Kite Pharma, Inc.’s FY2021 Earnings (NASDAQ:KITE)
Kite Pharma, Inc. (NASDAQ:KITE) – Stock analysts at Wedbush cut their FY2021 EPS estimates for Kite Pharma in a report released on Thursday. Wedbush analyst D. Nierengarten now anticipates that the biopharmaceutical company will earn $0.16 per share for the year, down from their previous estimate of $0.19. Wedbush currently has a “Underperform” rating and a $54.00 target price on the stock.
Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($1.74) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by $0.06. Kite Pharma had a negative return on equity of 55.80% and a negative net margin of 1,166.54%. The company had revenue of $9.80 million for the quarter, compared to analyst estimates of $8.85 million. During the same period last year, the firm earned ($0.60) earnings per share. The firm’s revenue for the quarter was up 92.2% on a year-over-year basis. TRADEMARK VIOLATION NOTICE: “Brokers Issue Forecasts for Kite Pharma, Inc.’s FY2021 Earnings (NASDAQ:KITE)” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another site, it was illegally stolen and reposted in violation of international copyright and trademark law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/07/21/brokers-issue-forecasts-for-kite-pharma-inc-s-fy2021-earnings-nasdaqkite.html.
Other equities analysts have also recently issued research reports about the stock. Vetr cut shares of Kite Pharma from a “strong-buy” rating to a “buy” rating and set a $83.76 price objective on the stock. in a research report on Monday, April 10th. Roth Capital reissued a “buy” rating and set a $93.00 price objective on shares of Kite Pharma in a research report on Thursday, April 6th. Canaccord Genuity set a $90.00 price objective on shares of Kite Pharma and gave the stock a “buy” rating in a research report on Thursday, April 20th. Jefferies Group LLC reissued a “buy” rating on shares of Kite Pharma in a research report on Thursday, April 20th. Finally, Maxim Group set a $100.00 price objective on shares of Kite Pharma and gave the stock a “buy” rating in a research report on Monday, April 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $87.38.
Kite Pharma (KITE) traded down 0.67% on Friday, reaching $109.15. The company’s stock had a trading volume of 969,260 shares. The company’s market cap is $6.17 billion. Kite Pharma has a 12 month low of $39.82 and a 12 month high of $110.44. The stock’s 50 day moving average price is $95.17 and its 200 day moving average price is $74.87.
In other news, SVP Jeffrey Wiezorek sold 10,000 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $104.32, for a total transaction of $1,043,200.00. Following the completion of the transaction, the senior vice president now directly owns 31,071 shares in the company, valued at approximately $3,241,326.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David D. Chang sold 20,000 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $82.09, for a total transaction of $1,641,800.00. Following the transaction, the executive vice president now owns 70,165 shares of the company’s stock, valued at $5,759,844.85. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 70,450 shares of company stock valued at $4,863,126 and sold 371,132 shares valued at $32,078,682. 14.00% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Kite Pharma by 106,272.1% in the first quarter. BlackRock Inc. now owns 3,621,971 shares of the biopharmaceutical company’s stock worth $284,287,000 after buying an additional 3,618,566 shares in the last quarter. Point72 Asset Management L.P. increased 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 worth $64,354,000 after buying an additional 575,178 shares in the last quarter. Vanguard Group Inc. increased its stake in Kite Pharma by 16.1% in the first quarter. Vanguard Group Inc. now owns 3,661,547 shares of the biopharmaceutical company’s stock worth $287,395,000 after buying an additional 507,289 shares in the last quarter. Columbia Wanger Asset Management LLC bought a new stake in Kite Pharma during the first quarter worth about $35,452,000. Finally, Norges Bank bought a new stake in Kite Pharma during the fourth quarter worth about $16,848,000. Hedge funds and other institutional investors own 85.24% 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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