SunTrust Banks Analysts Boost Earnings Estimates for Kite Pharma, Inc. (KITE)

Kite Pharma, Inc. (NASDAQ:KITE) – SunTrust Banks raised their FY2020 earnings per share (EPS) estimates for Kite Pharma in a research note issued to investors on Friday. SunTrust Banks analyst P. Lawson now anticipates that the biopharmaceutical company will post earnings per share of $3.25 for the year, up from their prior forecast of $3.10.

A number of other research analysts have also recently issued reports on KITE. Wells Fargo & Co started coverage on Kite Pharma in a report on Wednesday, February 22nd. They set a “market perform” rating for the company. HC Wainwright reissued a “buy” rating and set a $85.00 price objective (up from $78.00) on shares of Kite Pharma in a report on Wednesday, February 22nd. Zacks Investment Research raised Kite Pharma from a “sell” rating to a “hold” rating in a report on Thursday, February 23rd. Jefferies Group LLC reissued a “buy” rating and set a $72.00 price objective on shares of Kite Pharma in a report on Monday, February 27th. Finally, Standpoint Research reissued a “buy” rating and set a $85.00 price objective on shares of Kite Pharma in a report on Tuesday, February 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $83.13.

Earnings History and Estimates for Kite Pharma (NASDAQ:KITE)

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Kite Pharma (KITE) traded up 4.12% during trading on Monday, hitting $92.97. 1,060,279 shares of the stock traded hands. The company has a 50-day moving average price of $78.25 and a 200 day moving average price of $66.56. Kite Pharma has a one year low of $39.82 and a one year high of $95.44. The stock’s market cap is $5.26 billion.

Kite Pharma (NASDAQ:KITE) last released its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($1.74) EPS for the quarter, missing the consensus estimate of ($1.68) by $0.06. The firm had revenue of $9.80 million for the quarter, compared to the consensus estimate of $8.85 million. Kite Pharma had a negative return on equity of 55.80% and a negative net margin of 1,166.54%. The firm’s revenue was up 92.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.60) EPS.

A number of hedge funds have recently made changes to their positions in KITE. Seven Eight Capital LP purchased a new stake in shares of Kite Pharma during the fourth quarter worth approximately $197,000. Baillie Gifford & Co. purchased a new stake in shares of Kite Pharma during the first quarter worth approximately $201,000. Turner Investments LLC purchased a new stake in shares of Kite Pharma during the first quarter worth approximately $235,000. Opus Point Partners Management LLC purchased a new stake in shares of Kite Pharma during the fourth quarter worth approximately $241,000. Finally, Pacad Investment Ltd. purchased a new stake in shares of Kite Pharma during the fourth quarter worth approximately $269,000. Hedge funds and other institutional investors own 85.33% of the company’s stock.

In related news, Director Farah Champsi sold 20,450 shares of Kite Pharma stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $89.79, for a total value of $1,836,205.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Helen Susan Kim sold 2,400 shares of Kite Pharma stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $81.80, for a total value of $196,320.00. Following the completion of the sale, the executive vice president now owns 21,064 shares of the company’s stock, valued at $1,723,035.20. 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 448,908 shares valued at $37,369,692. 20.60% of the stock is owned by company insiders.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:KITE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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