Kite Pharma Inc (NASDAQ:KITE) – Research analysts at SunTrust Banks increased their FY2019 earnings per share estimates for shares of Kite Pharma in a report issued on Sunday, according to Zacks Investment Research. SunTrust Banks analyst P. Lawson now forecasts that the biopharmaceutical company will earn ($0.53) per share for the year, up from their prior forecast of ($1.70). SunTrust Banks also issued estimates for Kite Pharma’s FY2020 earnings at $3.09 EPS.
Several other equities analysts also recently weighed in on KITE. Stifel Nicolaus downgraded Kite Pharma from a “buy” rating to a “hold” rating and set a $74.00 target price on the stock. in a research report on Friday, March 3rd. Vetr downgraded Kite Pharma from a “strong-buy” rating to a “buy” rating and set a $83.76 target price on the stock. in a research report on Monday, April 10th. Jefferies Group LLC reiterated a “buy” rating on shares of Kite Pharma in a research report on Thursday. Canaccord Genuity set a $90.00 price target on Kite Pharma and gave the company a “buy” rating in a report on Thursday. Finally, Wedbush reissued a “neutral” rating and set a $60.00 price target on shares of Kite Pharma in a report on Monday, April 3rd. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $80.46.
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Shares of Kite Pharma (NASDAQ:KITE) traded down 2.03% on Wednesday, hitting $79.50. The company had a trading volume of 992,368 shares. Kite Pharma has a 52 week low of $39.82 and a 52 week high of $88.58. The stock’s market capitalization is $3.99 billion. The firm’s 50 day moving average price is $79.02 and its 200-day moving average price is $57.60.
Kite Pharma (NASDAQ:KITE) last announced its earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.75) by $0.05. The company had revenue of $4.90 million for the quarter, compared to analysts’ expectations of $5.74 million. Kite Pharma had a negative return on equity of 39.26% and a negative net margin of 994.89%. Kite Pharma’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.54) earnings per share.
Large investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Kite Pharma by 2.2% in the third quarter. BlackRock Inc. now owns 4,112 shares of the biopharmaceutical company’s stock valued at $229,000 after buying an additional 90 shares during the last quarter. Boyer & Corporon Wealth Management LLC boosted its stake in shares of Kite Pharma by 1.8% in the third quarter. Boyer & Corporon Wealth Management LLC now owns 10,203 shares of the biopharmaceutical company’s stock valued at $570,000 after buying an additional 178 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Kite Pharma by 0.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 21,963 shares of the biopharmaceutical company’s stock valued at $985,000 after buying an additional 200 shares during the last quarter. Howard Hughes Medical Institute boosted its stake in shares of Kite Pharma by 7.8% in the third quarter. Howard Hughes Medical Institute now owns 3,700 shares of the biopharmaceutical company’s stock valued at $207,000 after buying an additional 269 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake 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 valued at $3,598,000 after buying an additional 440 shares during the last quarter. 80.73% of the stock is currently owned by institutional investors.
In other Kite Pharma news, COO Cynthia M. Butitta sold 38,882 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $73.46, for a total transaction of $2,856,271.72. Following the sale, the chief operating officer now directly owns 127,795 shares of the company’s stock, valued at $9,387,820.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Cynthia M. Butitta sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $50.56, for a total value of $505,600.00. Following the sale, the chief operating officer now directly owns 127,795 shares in the company, valued at $6,461,315.20. The disclosure for this sale can be found here. Insiders sold 299,876 shares of company stock worth $22,663,456 over the last ninety days. Insiders own 20.60% 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.
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