Vetr downgraded shares of Kite Pharma Inc. (NASDAQ:KITE) from a strong-buy rating to a buy rating in a research note released on Tuesday morning. They currently have $63.91 target price on the biopharmaceutical company’s stock.

Several other research firms have also commented on KITE. BTIG Research assumed coverage on Kite Pharma in a research note on Tuesday, August 30th. They issued a neutral rating for the company. Jefferies Group restated a buy rating on shares of Kite Pharma in a research note on Friday, August 5th. Barclays PLC set a $60.00 price objective on Kite Pharma and gave the stock a hold rating in a research note on Tuesday, August 9th. Mizuho set a $80.00 price objective on Kite Pharma and gave the stock a buy rating in a research note on Tuesday, August 9th. Finally, Maxim Group restated a buy rating and issued a $77.00 price objective (down from $87.00) on shares of Kite Pharma in a research note on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Kite Pharma currently has a consensus rating of Buy and an average target price of $73.93.

Shares of Kite Pharma (NASDAQ:KITE) opened at 57.63 on Tuesday. The company’s market cap is $2.86 billion. The firm’s 50-day moving average price is $58.44 and its 200 day moving average price is $51.25. Kite Pharma has a 52 week low of $38.41 and a 52 week high of $89.84.

Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.91) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.30. The firm earned $4.80 million during the quarter, compared to analyst estimates of $4.86 million. Kite Pharma had a negative return on equity of 32.91% and a negative net margin of 873.86%. Kite Pharma’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.26) EPS. On average, equities research analysts forecast that Kite Pharma will post ($5.82) EPS for the current year.

In related news, COO Cynthia M. Butitta sold 20,000 shares of the stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $50.71, for a total value of $1,014,200.00. Following the completion of the transaction, the chief operating officer now owns 105,401 shares of the company’s stock, valued at approximately $5,344,884.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $58.24, for a total transaction of $87,360.00. The disclosure for this sale can be found here. 20.60% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its position in shares of Kite Pharma by 14.6% in the first quarter. BlackRock Fund Advisors now owns 1,508,215 shares of the biopharmaceutical company’s stock worth $69,242,000 after buying an additional 192,512 shares during the last quarter. First Republic Investment Management Inc. increased its stake in shares of Kite Pharma by 101.1% in the first quarter. First Republic Investment Management Inc. now owns 739,867 shares of the biopharmaceutical company’s stock valued at $33,967,000 after buying an additional 372,034 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Kite Pharma by 7.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 956,903 shares of the biopharmaceutical company’s stock valued at $43,931,000 after buying an additional 62,968 shares during the last quarter. State Street Corp increased its stake in shares of Kite Pharma by 30.6% in the first quarter. State Street Corp now owns 1,332,147 shares of the biopharmaceutical company’s stock valued at $61,162,000 after buying an additional 312,481 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Kite Pharma during the fourth quarter valued at about $19,900,000. 75.28% of the stock is owned by hedge funds and other 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.

5 Day Chart for NASDAQ:KITE

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