Cowen and Company Reiterates Outperform Rating for Kite Pharma Inc (KITE)

Kite Pharma Inc (NASDAQ:KITE)‘s stock had its “outperform” rating reiterated by Cowen and Company in a report released on Thursday.

KITE has been the subject of several other reports. Standpoint Research lowered Kite Pharma from a “buy” rating to a “hold” rating and set a $85.00 price target for the company. in a research note on Monday, March 13th. Wedbush reiterated a “neutral” rating and issued a $60.00 target price on shares of Kite Pharma in a research note on Monday, April 3rd. Canaccord Genuity reiterated a “buy” rating and issued a $90.00 target price on shares of Kite Pharma in a research note on Monday, April 3rd. Maxim Group set a $100.00 target price on Kite Pharma and gave the company a “buy” rating in a research note on Monday, April 3rd. Finally, BTIG Research reiterated a “neutral” rating on shares of Kite Pharma in a research note on Friday, March 3rd. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $80.46.

Analyst Recommendations for Kite Pharma (NASDAQ:KITE)

Kite Pharma (NASDAQ:KITE) traded down 2.03% during trading on Thursday, hitting $79.50. 984,411 shares of the stock traded hands. Kite Pharma has a 52-week low of $39.82 and a 52-week high of $88.58. The stock’s market cap is $3.99 billion. The stock has a 50 day moving average price of $79.02 and a 200-day moving average price of $57.60.



Kite Pharma (NASDAQ:KITE) last released its earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.75) by $0.05. Kite Pharma had a negative return on equity of 39.26% and a negative net margin of 994.89%. The firm had revenue of $4.90 million for the quarter, compared to the consensus estimate of $5.74 million. During the same period in the prior year, the business posted ($0.54) earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts anticipate that Kite Pharma will post ($8.14) EPS for the current fiscal year.

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In related news, Director Farah Champsi sold 115,376 shares of the firm’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $82.42, for a total value of $9,509,289.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Cynthia M. Butitta sold 10,000 shares of Kite Pharma stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $50.56, for a total value of $505,600.00. Following the transaction, the chief operating officer now owns 127,795 shares in the company, valued at $6,461,315.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 299,876 shares of company stock worth $22,663,456. 20.60% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of KITE. Bainco International Investors boosted its position in shares of Kite Pharma by 2,722.8% in the third quarter. Bainco International Investors now owns 671,540 shares of the biopharmaceutical company’s stock valued at $37,512,000 after buying an additional 647,750 shares during the period. Capital International Investors boosted its position in shares of Kite Pharma by 81.3% in the third quarter. Capital International Investors now owns 1,314,200 shares of the biopharmaceutical company’s stock worth $73,411,000 after buying an additional 589,500 shares during the last quarter. Highline Capital Management L.P. bought a new position in shares of Kite Pharma during the third quarter worth about $28,232,000. State Street Corp boosted its position in shares of Kite Pharma by 24.2% in the fourth quarter. State Street Corp now owns 1,967,213 shares of the biopharmaceutical company’s stock worth $88,217,000 after buying an additional 383,693 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Kite Pharma during the fourth quarter worth about $16,848,000. Institutional investors own 80.73% 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.

5 Day Chart for NASDAQ:KITE

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