Kite Pharma Inc (NASDAQ:KITE)‘s stock had its “neutral” rating reiterated by investment analysts at BTIG Research in a research report issued on Friday.
A number of other research firms also recently weighed in on KITE. FBR & Co restated an “outperform” rating and issued a $91.00 target price (up from $90.00) on shares of Kite Pharma in a report on Tuesday, May 9th. Zacks Investment Research downgraded shares of Kite Pharma from a “hold” rating to a “sell” rating in a report on Wednesday, February 8th. Jefferies Group LLC restated a “buy” rating and issued a $101.00 target price (up from $82.00) on shares of Kite Pharma in a report on Thursday, March 16th. Vetr downgraded shares of Kite Pharma from a “sell” rating to a “strong sell” rating and set a $70.37 target price on the stock. in a report on Thursday, March 9th. Finally, Wells Fargo & Co assumed coverage on shares of Kite Pharma in a report on Wednesday, February 22nd. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $80.97.
Kite Pharma (NASDAQ:KITE) traded down 1.16% on Friday, hitting $71.65. 476,760 shares of the stock traded hands. The company’s 50 day moving average price is $78.46 and its 200-day moving average price is $61.64. The stock’s market cap is $4.05 billion. Kite Pharma has a 52-week low of $39.82 and a 52-week high of $88.58.
Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($1.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by $0.06. The company had revenue of $9.80 million during the quarter, compared to the consensus estimate of $8.85 million. Kite Pharma had a negative net margin of 994.89% and a negative return on equity of 39.26%. The business’s revenue was up 92.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.60) earnings per share. On average, analysts forecast that Kite Pharma will post ($8.16) earnings per share for the current fiscal year.
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In other Kite Pharma news, EVP Helen Susan Kim sold 2,400 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $81.80, for a total value of $196,320.00. Following the transaction, the executive vice president now directly owns 21,064 shares of the company’s stock, valued at approximately $1,723,035.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Paul L. Jenkinson acquired 3,450 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was purchased at an average cost of $72.59 per share, for a total transaction of $250,435.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 70,450 shares of company stock valued at $4,863,126 and have sold 540,558 shares valued at $42,856,932. 20.60% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Kite Pharma by 106,272.1% in the first quarter. BlackRock Inc. now owns 3,621,971 shares of the biopharmaceutical company’s stock worth $284,287,000 after buying an additional 3,618,566 shares during the period. Bainco International Investors raised 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 last quarter. Capital International Investors raised 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 valued at $73,411,000 after buying an additional 589,500 shares during the last quarter. 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 last quarter. Finally, 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 last quarter. 80.73% of the stock is currently 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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