Kite Pharma, Inc. (KITE) Expected to Announce Earnings of -$1.97 Per Share
Wall Street analysts expect Kite Pharma, Inc. (NASDAQ:KITE) to announce ($1.97) earnings per share for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Kite Pharma’s earnings, with the highest EPS estimate coming in at ($1.83) and the lowest estimate coming in at ($2.13). Kite Pharma reported earnings per share of ($1.31) during the same quarter last year, which would indicate a negative year over year growth rate of 50.4%. The company is expected to issue its next quarterly earnings report before the market opens on Tuesday, August 8th.
According to Zacks, analysts expect that Kite Pharma will report full year earnings of ($8.35) per share for the current fiscal year, with EPS estimates ranging from ($8.71) to ($7.87). For the next financial year, analysts expect that the company will post earnings of ($7.61) per share, with EPS estimates ranging from ($9.34) to ($4.22). Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Kite Pharma.
Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($1.74) earnings per share 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 analyst estimates of $8.85 million. Kite Pharma had a negative net margin of 1,166.54% and a negative return on equity of 55.80%. The company’s quarterly revenue was up 92.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.60) EPS.
Several equities research analysts have issued reports on KITE shares. Vetr lowered Kite Pharma from a “strong-buy” rating to a “buy” rating and set a $83.76 price target for the company. in a research note on Monday, April 10th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Kite Pharma in a research note on Thursday, April 20th. Canaccord Genuity set a $90.00 price objective on Kite Pharma and gave the stock a “buy” rating in a report on Thursday, April 20th. UBS AG downgraded Kite Pharma from an “outperform” rating to a “market perform” rating in a report on Monday, May 8th. Finally, Raymond James Financial, Inc. reiterated a “mkt perform” rating on shares of Kite Pharma in a report on Monday, May 8th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Kite Pharma currently has a consensus rating of “Buy” and a consensus target price of $87.38.
Shares of Kite Pharma (NASDAQ KITE) traded up 0.86% during midday trading on Monday, hitting $113.55. The stock had a trading volume of 865,013 shares. Kite Pharma has a 1-year low of $39.82 and a 1-year high of $114.69. The firm’s 50-day moving average price is $101.96 and its 200-day moving average price is $78.58. The stock’s market cap is $6.42 billion.
In other Kite Pharma news, EVP Timothy L. Moore sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $110.06, for a total transaction of $660,360.00. Following the transaction, the executive vice president now owns 55,400 shares in the company, valued at approximately $6,097,324. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Bonderman bought 50,000 shares of Kite Pharma stock in a transaction on Tuesday, May 9th. The shares were purchased at an average price of $68.94 per share, for a total transaction of $3,447,000.00. Following the acquisition, the director now directly owns 1,950 shares in the company, valued at approximately $134,433. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 70,450 shares of company stock worth $4,863,126 and have sold 165,099 shares worth $16,244,448. 14.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of KITE. Teacher Retirement System of Texas increased its position in Kite Pharma by 1.4% in the second quarter. Teacher Retirement System of Texas now owns 3,651 shares of the biopharmaceutical company’s stock worth $378,000 after buying an additional 52 shares during the period. Profund Advisors LLC increased its position in Kite Pharma by 0.8% in the first quarter. Profund Advisors LLC now owns 21,361 shares of the biopharmaceutical company’s stock worth $1,677,000 after buying an additional 161 shares during the period. Amalgamated Bank increased its position in Kite Pharma by 6.6% in the first quarter. Amalgamated Bank now owns 5,131 shares of the biopharmaceutical company’s stock worth $403,000 after buying an additional 317 shares during the period. Rice Hall James & Associates LLC increased its position in Kite Pharma by 1.0% in the first quarter. Rice Hall James & Associates LLC now owns 45,842 shares of the biopharmaceutical company’s stock worth $3,598,000 after buying an additional 440 shares during the period. Finally, Prudential Financial Inc. increased its position in Kite Pharma by 26.3% in the second quarter. Prudential Financial Inc. now owns 5,000 shares of the biopharmaceutical company’s stock worth $518,000 after buying an additional 1,040 shares during the period. Hedge funds and other institutional investors own 84.96% of the company’s stock.
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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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