Jefferies Group LLC restated their buy rating on shares of Kite Pharma, Inc. (NASDAQ:KITE) in a report issued on Wednesday. The brokerage currently has a $135.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $121.00.
A number of other equities analysts have also weighed in on the stock. Goldman Sachs Group, Inc. (The) lifted their price objective on shares of Kite Pharma from $85.00 to $89.00 and gave the company a buy rating in a research report on Tuesday, May 9th. Vetr lowered shares of Kite Pharma from a buy rating to a hold rating and set a $83.76 price objective on the stock. in a research report on Monday, April 17th. Canaccord Genuity set a $115.00 price objective on shares of Kite Pharma and gave the company a buy rating in a research report on Monday, July 10th. Wedbush lowered shares of Kite Pharma from a neutral rating to an underperform rating and lowered their price objective for the company from $60.00 to $54.00 in a research report on Tuesday, May 9th. Finally, ValuEngine upgraded shares of Kite Pharma from a sell rating to a hold rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $88.93.
Shares of Kite Pharma (KITE) traded down 0.41% during mid-day trading on Wednesday, reaching $120.48. 695,642 shares of the company were exchanged. Kite Pharma has a 12 month low of $39.82 and a 12 month high of $122.19. The stock has a 50 day moving average price of $106.31 and a 200-day moving average price of $81.02. The stock’s market capitalization is $6.83 billion.
Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.97) by $0.03. Kite Pharma had a negative net margin of 1,117.44% and a negative return on equity of 63.28%. The firm had revenue of $10.10 million for the quarter, compared to analyst estimates of $9.59 million. During the same period last year, the firm posted ($0.91) EPS. Kite Pharma’s quarterly revenue was up 110.4% on a year-over-year basis. Analysts predict that Kite Pharma will post ($8.35) earnings per share for the current year.
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In other news, EVP Timothy L. Moore sold 6,000 shares of Kite Pharma stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $110.06, for a total transaction of $660,360.00. Following the completion of the transaction, the executive vice president now owns 55,400 shares of the company’s stock, valued at approximately $6,097,324. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Cynthia M. Butitta sold 10,000 shares of Kite Pharma stock in a transaction on Friday, June 9th. The stock was sold at an average price of $88.55, for a total value of $885,500.00. Following the transaction, the chief operating officer now directly owns 127,795 shares of the company’s stock, valued at approximately $11,316,247.25. The disclosure for this sale can be found here. Insiders have sold a total of 165,099 shares of company stock valued at $16,244,448 in the last ninety days. Corporate insiders own 14.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in KITE. Winslow Evans & Crocker Inc. purchased a new position in Kite Pharma during the second quarter valued at about $124,000. Baillie Gifford & Co. purchased a new position in Kite Pharma during the first quarter valued at about $201,000. Comerica Bank purchased a new position in Kite Pharma during the second quarter valued at about $201,000. Turner Investments LLC purchased a new position in Kite Pharma during the first quarter valued at about $235,000. Finally, Capital Investment Advisory Services LLC purchased a new position in Kite Pharma during the second quarter valued at about $238,000. 84.96% 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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