Kite Pharma Inc (NASDAQ:KITE)‘s stock had its “buy” rating reaffirmed by investment analysts at Jefferies Group LLC in a report issued on Thursday. They presently have a $101.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $82.00. Jefferies Group LLC’s target price indicates a potential upside of 20.27% from the stock’s previous close.
Several other research analysts have also issued reports on the company. Canaccord Genuity reiterated a “buy” rating and set a $90.00 price objective (up from $75.00) on shares of Kite Pharma in a research note on Wednesday, March 15th. Standpoint Research lowered Kite Pharma from a “buy” rating to a “hold” rating and set a $85.00 price objective for the company. in a research note on Monday, March 13th. Maxim Group reiterated a “buy” rating and set a $84.00 price objective on shares of Kite Pharma in a research note on Saturday, March 11th. Vetr lowered Kite Pharma from a “sell” rating to a “strong sell” rating and set a $70.37 price objective for the company. in a research note on Thursday, March 9th. Finally, Cowen and Company reiterated an “outperform” rating on shares of Kite Pharma in a research note on Tuesday, March 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company’s stock. Kite Pharma presently has a consensus rating of “Buy” and a consensus target price of $77.69.
Shares of Kite Pharma (NASDAQ:KITE) opened at 83.98 on Thursday. The company has a 50-day moving average of $63.53 and a 200 day moving average of $54.03. The firm’s market cap is $4.21 billion. Kite Pharma has a 12-month low of $39.82 and a 12-month high of $88.58.
Kite Pharma (NASDAQ:KITE) last issued its earnings results on Monday, February 27th. The biopharmaceutical company reported ($1.31) EPS for the quarter, beating analysts’ consensus estimates of ($1.75) by $0.44. The business earned $4.90 million during the quarter, compared to analyst estimates 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 revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.54) earnings per share. Equities analysts predict that Kite Pharma will post ($7.92) EPS for the current year.
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In other Kite Pharma news, SVP Jeffrey Wiezorek sold 1,500 shares of the firm’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $50.00, for a total transaction of $75,000.00. Following the transaction, the senior vice president now owns 22,195 shares in the company, valued at $1,109,750. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Cynthia M. Butitta sold 21,118 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $80.78, for a total value of $1,705,912.04. Following the sale, the chief operating officer now directly owns 138,913 shares in the company, valued at approximately $11,221,392.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,980 shares of company stock worth $13,028,153. Company insiders own 20.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Moody Aldrich Partners LLC raised its stake in Kite Pharma by 11.2% in the third quarter. Moody Aldrich Partners LLC now owns 15,425 shares of the biopharmaceutical company’s stock worth $862,000 after buying an additional 1,550 shares in the last quarter. Nationwide Fund Advisors raised its stake in Kite Pharma by 30.1% in the third quarter. Nationwide Fund Advisors now owns 48,280 shares of the biopharmaceutical company’s stock worth $2,697,000 after buying an additional 11,180 shares in the last quarter. Rice Hall James & Associates LLC raised its stake in Kite Pharma by 12.7% in the third quarter. Rice Hall James & Associates LLC now owns 46,213 shares of the biopharmaceutical company’s stock worth $2,581,000 after buying an additional 5,212 shares in the last quarter. Strs Ohio raised its stake in Kite Pharma by 33.3% in the third quarter. Strs Ohio now owns 3,200 shares of the biopharmaceutical company’s stock worth $178,000 after buying an additional 800 shares in the last quarter. Finally, Tocqueville Asset Management L.P. raised its stake in Kite Pharma by 5.3% in the third quarter. Tocqueville Asset Management L.P. now owns 36,050 shares of the biopharmaceutical company’s stock worth $2,014,000 after buying an additional 1,800 shares in the last quarter. 80.73% of the stock is currently owned by institutional investors.
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 eradicate cancer cells. The Company offers engineered autologous cell therapy (eACT), which is an approach to the treatment of cancer. It is conducting over four pivotal studies of its lead product candidate, KTE-C19, a CAR-based therapy.
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