Kite Pharma Inc (NASDAQ:KITE) has been given a $101.00 price target by equities researchers at Jefferies Group LLC in a research note issued on Friday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Jefferies Group LLC’s price target indicates a potential upside of 39.33% from the company’s previous close.
Several other analysts have also issued reports on the stock. HC Wainwright restated a “buy” rating and set a $85.00 price target on shares of Kite Pharma in a research report on Friday. BTIG Research restated a “neutral” rating on shares of Kite Pharma in a research report on Friday. Raymond James Financial, Inc. lowered shares of Kite Pharma from an “outperform” rating to a “mkt perform” rating in a research report on Monday. Maxim Group set a $88.00 price target on shares of Kite Pharma and gave the company a “buy” rating in a research report on Tuesday, May 9th. Finally, Wedbush lowered shares of Kite Pharma from a “neutral” rating to an “underperform” rating and cut their price target for the company from $60.00 to $54.00 in a research report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. Kite Pharma presently has a consensus rating of “Hold” and an average price target of $80.97.
Shares of Kite Pharma (NASDAQ:KITE) traded down 0.50% on Friday, reaching $72.13. The company had a trading volume of 512,233 shares. The company’s 50-day moving average is $78.46 and its 200-day moving average is $61.64. The company’s market capitalization is $4.08 billion. Kite Pharma has a one year low of $39.82 and a one year high of $88.58.
Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($1.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.68) by $0.06. Kite Pharma had a negative net margin of 994.89% and a negative return on equity of 39.26%. The business had revenue of $9.80 million for the quarter, compared to analysts’ expectations of $8.85 million. During the same quarter in the previous year, the company earned ($0.60) earnings per share. The business’s quarterly revenue was up 92.2% on a year-over-year basis. Equities research analysts predict that Kite Pharma will post ($8.16) earnings per share for the current year.
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In related news, Chairman Arie Belldegrun purchased 17,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The stock was bought at an average cost of $68.57 per share, with a total value of $1,165,690.00. Following the completion of the purchase, the chairman now directly owns 85,507 shares in the company, valued at $5,863,214.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Paul L. Jenkinson purchased 3,450 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was bought at an average cost of $72.59 per share, with a total value of $250,435.50. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 70,450 shares of company stock valued at $4,863,126 and sold 540,558 shares valued at $42,856,932. 20.60% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Kite Pharma by 2.2% in the third quarter. BlackRock Inc. now owns 4,112 shares of the biopharmaceutical company’s stock worth $229,000 after buying an additional 90 shares during the last quarter. Profund Advisors LLC increased its position in 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 during the last quarter. Boyer & Corporon Wealth Management LLC increased its position in 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 worth $570,000 after buying an additional 178 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in 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 worth $985,000 after buying an additional 200 shares during the last quarter. Finally, Amalgamated Bank increased its position in 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 during the last quarter. 80.73% of the stock is owned by institutional investors.
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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