Kite Pharma Inc. (NASDAQ:KITE) had its price objective upped by Barclays PLC from $60.00 to $65.00 in a research report sent to investors on Tuesday morning. Barclays PLC currently has an equal weight rating on the biopharmaceutical company’s stock.
“While we need to wait for clarity on durability, (doctors would like to see a med of ~9+ months), based on the Ph1 ZUMA patients, CRs at 3 months appear to be durable out to 9 months, which is encouraging. It will also be important to see CR rates in both chemo-refractory vs. relapse after stem cell transplant (SCT) (the prior being the higher hurdle), however in our view any differences, unless profound, would be unlikely to prevent approval in both patient settings,,” the firm’s analyst wrote.
Other equities research analysts also recently issued research reports about the company. Jefferies Group restated a buy rating and set a $72.00 price target on shares of Kite Pharma in a report on Saturday, July 9th. Raymond James Financial Inc. initiated coverage on Kite Pharma in a report on Thursday, June 2nd. They set an outperform rating and a $61.00 price target on the stock. FBR & Co restated a buy rating on shares of Kite Pharma in a report on Thursday, June 2nd. Canaccord Genuity restated a buy rating and set a $75.00 price target on shares of Kite Pharma in a report on Wednesday, July 13th. Finally, Cowen and Company restated a buy rating on shares of Kite Pharma in a report on Monday, June 6th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $74.46.
Kite Pharma (NASDAQ:KITE) traded down 5.70% during mid-day trading on Tuesday, reaching $56.62. The company’s stock had a trading volume of 915,121 shares. Kite Pharma has a 12-month low of $38.41 and a 12-month high of $89.84. The stock’s market cap is $2.81 billion. The firm’s 50 day moving average price is $58.29 and its 200 day moving average price is $51.62.
Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.21) by $0.30. The firm had revenue of $4.80 million for the quarter, compared to the consensus estimate of $4.86 million. Kite Pharma had a negative return on equity of 32.91% and a negative net margin of 873.86%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.26) EPS. On average, equities analysts predict that Kite Pharma will post ($5.82) earnings per share for the current year.
In other Kite Pharma news, SVP Jeffrey Wiezorek sold 1,500 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $50.00, for a total transaction of $75,000.00. Following the completion of the sale, the senior vice president now directly owns 16,367 shares of the company’s stock, valued at approximately $818,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the executive vice president now directly owns 42,500 shares of the company’s stock, valued at $2,561,475. The disclosure for this sale can be found here. Company insiders own 20.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. HBK Investments L P boosted its stake in Kite Pharma by 73.5% in the first quarter. HBK Investments L P now owns 11,501 shares of the biopharmaceutical company’s stock worth $528,000 after buying an additional 4,871 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Kite Pharma by 5.4% in the first quarter. Geode Capital Management LLC now owns 282,806 shares of the biopharmaceutical company’s stock worth $12,983,000 after buying an additional 14,380 shares during the period. Nicholas Investment Partners LP acquired a new position in shares of Kite Pharma during the first quarter worth about $1,340,000. UBS Asset Management Americas Inc. increased its position in shares of Kite Pharma by 2.8% in the first quarter. UBS Asset Management Americas Inc. now owns 377,578 shares of the biopharmaceutical company’s stock worth $17,334,000 after buying an additional 10,167 shares during the period. Finally, State Street Corp increased its position in shares of Kite Pharma by 30.6% in the first quarter. State Street Corp now owns 1,332,147 shares of the biopharmaceutical company’s stock worth $61,162,000 after buying an additional 312,481 shares during the period. 75.28% of the stock is owned by institutional investors.
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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