Kite Pharma, Inc. (NASDAQ:KITE) was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Monday. They presently have a $116.82 price objective on the biopharmaceutical company’s stock. Vetr‘s price objective indicates a potential upside of 3.40% from the company’s current price.
KITE has been the topic of several other reports. FBR & Co restated an “outperform” rating and set a $91.00 price objective (up from $90.00) on shares of Kite Pharma in a research note on Tuesday, May 9th. Canaccord Genuity set a $115.00 price objective on Kite Pharma and gave the stock a “buy” rating in a research note on Tuesday, June 27th. Roth Capital restated a “buy” rating and set a $93.00 price objective on shares of Kite Pharma in a research note on Tuesday, July 4th. Jefferies Group LLC raised their price objective on Kite Pharma from $101.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Finally, Cowen and Company restated an “outperform” rating on shares of Kite Pharma in a research note on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Kite Pharma presently has an average rating of “Buy” and an average price target of $87.38.
Shares of Kite Pharma (NASDAQ:KITE) traded up 3.51% during mid-day trading on Monday, reaching $112.98. 1,012,409 shares of the company were exchanged. The stock’s market capitalization is $6.39 billion. Kite Pharma has a 12 month low of $39.82 and a 12 month high of $113.07. The stock has a 50 day moving average price of $97.22 and a 200-day moving average price of $75.98.
Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($1.74) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 firm had revenue of $9.80 million for the quarter, compared to the consensus estimate of $8.85 million. During the same quarter last year, the business earned ($0.60) earnings per share. The business’s revenue for the quarter was up 92.2% compared to the same quarter last year. Analysts predict that Kite Pharma will post ($8.27) earnings per share for the current year.
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In other news, COO Cynthia M. Butitta sold 15,000 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $103.09, for a total transaction of $1,546,350.00. Following the transaction, the chief operating officer now directly owns 132,795 shares of the company’s stock, valued at $13,689,836.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Farah Champsi sold 46,783 shares of the firm’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $82.80, for a total value of $3,873,632.40. Following the transaction, the director now directly owns 79,152 shares in the company, valued at $6,553,785.60. The disclosure for this sale can be found here. Over the last three months, insiders have bought 70,450 shares of company stock worth $4,863,126 and have sold 345,314 shares worth $29,952,828. 14.00% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Essex Investment Management Co. LLC raised its position in shares of Kite Pharma by 8.0% in the first quarter. Essex Investment Management Co. LLC now owns 71,160 shares of the biopharmaceutical company’s stock worth $5,585,000 after buying an additional 5,273 shares during the period. Russell Investments Group Ltd. raised its position in shares of Kite Pharma by 72.9% in the first quarter. Russell Investments Group Ltd. now owns 30,606 shares of the biopharmaceutical company’s stock worth $2,403,000 after buying an additional 12,909 shares during the period. Strs Ohio acquired a new position in shares of Kite Pharma during the first quarter worth approximately $447,000. Profund Advisors LLC raised its position in shares of 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. Finally, Rothschild Investment Corp IL acquired a new position in shares of Kite Pharma during the first quarter worth approximately $522,000. 85.24% of the stock is currently 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 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.
To view Vetr’s full report, visit Vetr’s official website.
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