Vetr cut shares of Kite Pharma, Inc. (NASDAQ:KITE) from a buy rating to a hold rating in a research note issued to investors on Monday, July 24th. Vetr currently has $116.82 price objective on the biopharmaceutical company’s stock.
A number of other equities research analysts have also weighed in on the company. Maxim Group lowered Kite Pharma from a buy rating to a hold rating and set a $88.00 price objective on the stock. in a research report on Thursday, July 13th. Jefferies Group LLC boosted their price objective on Kite Pharma from $101.00 to $121.00 and gave the stock a buy rating in a research report on Monday, July 10th. Canaccord Genuity set a $115.00 price target on Kite Pharma and gave the company a buy rating in a research report on Monday, July 10th. Roth Capital reiterated a buy rating and issued a $93.00 price target on shares of Kite Pharma in a research report on Tuesday, July 4th. Finally, Cowen and Company reiterated an outperform rating on shares of Kite Pharma in a research report 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 given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $87.38.
Kite Pharma (NASDAQ KITE) traded up 1.01% during midday trading on Monday, hitting $110.53. 463,855 shares of the company traded hands. The company’s market cap is $6.25 billion. Kite Pharma has a 12-month low of $39.82 and a 12-month high of $114.69. The stock has a 50 day moving average price of $101.96 and a 200-day moving average price of $78.58.
Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($1.74) earnings per share for the quarter, missing analysts’ consensus estimates 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 company’s revenue was up 92.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.60) EPS. Analysts expect that Kite Pharma will post ($8.27) EPS for the current year.
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In other Kite Pharma news, EVP Helen Susan Kim sold 26,649 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $109.28, for a total transaction of $2,912,202.72. Following the completion of the transaction, the executive vice president now directly owns 28,763 shares of the company’s stock, valued at $3,143,220.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Arie Belldegrun acquired 17,000 shares of Kite Pharma stock in a transaction on Tuesday, May 9th. The shares were purchased at an average cost of $68.57 per share, with a total value of $1,165,690.00. Following the completion of the acquisition, the chairman now owns 85,507 shares of the company’s stock, valued at approximately $5,863,214.99. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 70,450 shares of company stock valued at $4,863,126 and sold 159,099 shares valued at $15,584,088. Corporate insiders own 14.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Kite Pharma by 106,272.1% in the first quarter. BlackRock Inc. now owns 3,621,971 shares of the biopharmaceutical company’s stock valued at $284,287,000 after buying an additional 3,618,566 shares during the period. Point72 Asset Management L.P. raised its position in shares of Kite Pharma by 235.0% in the first quarter. Point72 Asset Management L.P. now owns 819,900 shares of the biopharmaceutical company’s stock valued at $64,354,000 after buying an additional 575,178 shares during the period. Vanguard Group Inc. raised its position in shares of Kite Pharma by 16.1% in the first quarter. Vanguard Group Inc. now owns 3,661,547 shares of the biopharmaceutical company’s stock valued at $287,395,000 after buying an additional 507,289 shares during the period. Columbia Wanger Asset Management LLC purchased a new position in shares of Kite Pharma during the first quarter valued at $35,452,000. Finally, Norges Bank bought a new position in Kite Pharma during the fourth quarter worth approximately $16,848,000. 85.27% of the stock is owned by institutional investors and hedge funds.
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 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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