Kite Pharma Inc (NASDAQ:KITE)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued on Friday. They currently have a $85.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 17.26% from the company’s current price.
A number of other analysts have also weighed in on KITE. Roth Capital set a $93.00 target price on shares of Kite Pharma and gave the stock a “buy” rating in a research note on Monday, March 20th. Vetr raised Kite Pharma from a “hold” rating to a “buy” rating and set a $78.37 price target for the company in a report on Monday, March 27th. Zacks Investment Research downgraded Kite Pharma from a “hold” rating to a “sell” rating in a report on Wednesday, February 8th. Wedbush assumed coverage on Kite Pharma in a report on Wednesday, February 1st. They issued a “neutral” rating and a $46.00 price target for the company. Finally, Maxim Group set a $100.00 price target on Kite Pharma and gave the company a “buy” rating in a report on Monday, April 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $80.97.
Shares of Kite Pharma (NASDAQ:KITE) traded down 0.7735% during trading on Friday, hitting $71.9293. 493,122 shares of the company were exchanged. The firm’s market capitalization is $4.07 billion. The firm’s 50-day moving average price is $78.46 and its 200 day moving average price is $61.64. 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 quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($1.74) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.68) by $0.06. The business had revenue of $9.80 million for the quarter, compared to analysts’ expectations of $8.85 million. Kite Pharma had a negative return on equity of 39.26% and a negative net margin of 994.89%. The firm’s revenue for the quarter was up 92.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.60) earnings per share. On average, equities research analysts expect that Kite Pharma will post ($8.16) earnings per share for the current fiscal year.
In other Kite Pharma news, COO Cynthia M. Butitta sold 10,000 shares of the business’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $54.42, for a total transaction of $544,200.00. Following the completion of the transaction, the chief operating officer now owns 127,795 shares in the company, valued at approximately $6,954,603.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Paul L. Jenkinson purchased 3,450 shares of Kite Pharma stock in a transaction on Wednesday, May 10th. The shares were acquired at an average price of $72.59 per share, with a total value of $250,435.50. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 70,450 shares of company stock valued at $4,863,126 and have sold 540,558 shares valued at $42,856,932. Insiders own 20.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake 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 in the last quarter. Bainco International Investors raised its stake 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 worth $37,512,000 after buying an additional 647,750 shares during the period. Capital International Investors raised its stake 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 period. Point72 Asset Management L.P. raised its stake 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 worth $64,354,000 after buying an additional 575,178 shares during the period. Finally, Vanguard Group Inc. raised its stake 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 worth $287,395,000 after buying an additional 507,289 shares during the period. 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.
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