Stifel Nicolaus set a $74.00 target price on Kite Pharma Inc. (NASDAQ:KITE) in a research report released on Thursday morning. The brokerage currently has a a buy rating on the biopharmaceutical company’s stock.
A number of other brokerages have also weighed in on KITE. Jefferies Group reaffirmed a buy rating and set a $72.00 target price on shares of Kite Pharma in a research report on Tuesday, September 27th. BTIG Research started coverage on Kite Pharma in a research report on Tuesday, August 30th. They set a neutral rating on the stock. Mizuho reaffirmed a buy rating and set a $80.00 target price on shares of Kite Pharma in a research report on Friday, July 22nd. Zacks Investment Research raised Kite Pharma from a hold rating to a buy rating and set a $57.00 target price on the stock in a research report on Tuesday, July 5th. Finally, Vetr lowered Kite Pharma from a hold rating to a sell rating and set a $53.26 target price on the stock. in a research report on Monday, August 1st. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Kite Pharma has an average rating of Buy and a consensus target price of $72.99.
Kite Pharma (NASDAQ:KITE) opened at 55.37 on Thursday. The company’s market capitalization is $2.75 billion. Kite Pharma has a 52-week low of $38.41 and a 52-week high of $89.84. The firm’s 50-day moving average is $57.04 and its 200-day moving average is $52.37.
Kite Pharma (NASDAQ:KITE) last issued its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.30. Kite Pharma had a negative return on equity of 32.91% and a negative net margin of 873.86%. The company had revenue of $4.80 million for the quarter, compared to analyst estimates of $4.86 million. During the same period in the prior year, the firm earned ($0.26) earnings per share. Kite Pharma’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts forecast that Kite Pharma will post ($5.87) EPS for the current year.
In other news, COO Cynthia M. Butitta sold 10,000 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $50.94, for a total transaction of $509,400.00. Following the completion of the transaction, the chief operating officer now owns 105,401 shares in the company, valued at approximately $5,369,126.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $54.81, for a total value of $82,215.00. Following the transaction, the senior vice president now owns 17,311 shares of the company’s stock, valued at approximately $948,815.91. The disclosure for this sale can be found here. Insiders own 20.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Strs Ohio bought a new position in shares of Kite Pharma during the second quarter valued at approximately $120,000. Picton Mahoney Asset Management bought a new position in shares of Kite Pharma during the second quarter valued at approximately $135,000. BNP Paribas Arbitrage SA increased its position in shares of Kite Pharma by 115.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,301 shares of the biopharmaceutical company’s stock valued at $184,000 after buying an additional 1,768 shares in the last quarter. Howard Hughes Medical Institute increased its position in shares of Kite Pharma by 11.3% in the second quarter. Howard Hughes Medical Institute now owns 3,431 shares of the biopharmaceutical company’s stock valued at $172,000 after buying an additional 348 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Kite Pharma by 91.9% in the second quarter. BlackRock Inc. now owns 4,022 shares of the biopharmaceutical company’s stock valued at $201,000 after buying an additional 1,926 shares in the last quarter. Institutional investors own 75.28% of the company’s stock.
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 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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