Vetr lowered shares of Kite Pharma, Inc. (NASDAQ:KITE) from a buy rating to a hold rating in a report released on Monday, July 24th. The firm currently has $116.82 price objective on the biopharmaceutical company’s stock.
Other equities research analysts also recently issued research reports about the stock. UBS AG downgraded shares of Kite Pharma from an outperform rating to a market perform rating in a research report on Monday, May 8th. Canaccord Genuity set a $115.00 price target on shares of Kite Pharma and gave the stock a buy rating in a research note on Monday, July 10th. HC Wainwright reiterated a buy rating and set a $85.00 price target on shares of Kite Pharma in a research note on Friday, May 19th. Wedbush restated a neutral rating and set a $60.00 target price on shares of Kite Pharma in a research note on Monday, April 3rd. Finally, Raymond James Financial, Inc. cut shares of Kite Pharma from an outperform rating to a mkt perform rating in a research note on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $88.93.
Kite Pharma (KITE) traded down 0.46% during trading on Monday, reaching $120.04. The company had a trading volume of 872,913 shares. The firm’s 50 day moving average price is $107.08 and its 200 day moving average price is $81.31. The firm’s market capitalization is $6.86 billion. Kite Pharma has a 12-month low of $39.82 and a 12-month high of $122.19.
Kite Pharma (NASDAQ:KITE) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, topping 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 59.56%. The business had revenue of $10.10 million during the quarter, compared to the consensus estimate of $9.59 million. During the same quarter in the previous year, the firm posted ($0.91) EPS. The firm’s revenue was up 110.4% on a year-over-year basis. Equities research analysts forecast that Kite Pharma will post ($8.35) EPS for the current year.
ILLEGAL ACTIVITY NOTICE: “Kite Pharma, Inc. (KITE) Cut to “Hold” at Vetr Inc.” was published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this news story on another domain, it was copied illegally and republished in violation of US & international copyright and trademark law. The correct version of this news story can be viewed at https://stocknewstimes.com/2017/08/11/vetr-inc-lowers-kite-pharma-inc-kite-to-hold-updated-updated.html.
In other Kite Pharma news, COO Cynthia M. Butitta sold 10,000 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were 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 in the company, valued at approximately $11,316,247.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roy Doumani sold 15,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $84.48, for a total transaction of $1,267,200.00. Following the completion of the transaction, the director now owns 155,017 shares in the company, valued at $13,095,836.16. The disclosure for this sale can be found here. Insiders have sold a total of 245,048 shares of company stock worth $25,803,151 over the last quarter. 14.00% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas increased its position in shares of Kite Pharma by 1.4% in the second quarter. Teacher Retirement System of Texas now owns 3,651 shares of the biopharmaceutical company’s stock worth $378,000 after buying an additional 52 shares in the last quarter. Profund Advisors LLC increased 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 in the last quarter. Amalgamated Bank increased its position in shares of Kite Pharma by 6.6% in the first quarter. Amalgamated Bank now owns 5,131 shares of the biopharmaceutical company’s stock worth $403,000 after buying an additional 317 shares in the last quarter. Rice Hall James & Associates LLC increased its position in shares of Kite Pharma by 1.0% in the first quarter. Rice Hall James & Associates LLC now owns 45,842 shares of the biopharmaceutical company’s stock worth $3,598,000 after buying an additional 440 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Kite Pharma by 26.3% in the second quarter. Prudential Financial Inc. now owns 5,000 shares of the biopharmaceutical company’s stock worth $518,000 after buying an additional 1,040 shares in the last quarter. Institutional investors and hedge funds own 84.96% of the company’s stock.
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.
Receive News & Ratings for Kite Pharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kite Pharma Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
