Kite Pharma Inc. (NASDAQ:KITE)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group in a report released on Monday. They currently have a $72.00 price objective on the biopharmaceutical company’s stock. Jefferies Group’s target price indicates a potential upside of 24.93% from the company’s current price.

A number of other equities research analysts have also recently issued reports on KITE. Raymond James Financial Inc. began coverage on shares of Kite Pharma in a research report on Thursday, June 2nd. They issued an “outperform” rating and a $61.00 target price for the company. FBR & Co reissued a “buy” rating on shares of Kite Pharma in a research report on Thursday, June 2nd. Canaccord Genuity reissued a “buy” rating and issued a $75.00 target price on shares of Kite Pharma in a research report on Wednesday, July 13th. Cowen and Company reissued a “buy” rating on shares of Kite Pharma in a research report on Monday, June 6th. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Kite Pharma in a research report on Monday, June 6th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $73.93.

Shares of Kite Pharma (NASDAQ:KITE) opened at 57.63 on Monday. The firm’s market cap is $2.86 billion. The firm has a 50-day moving average of $58.44 and a 200 day moving average of $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 released its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.91) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.21) by $0.30. Kite Pharma had a negative net margin of 873.86% and a negative return on equity of 32.91%. The firm had revenue of $4.80 million for the quarter, compared to the consensus estimate of $4.86 million. During the same period in the previous year, the company earned ($0.26) earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, equities analysts predict that Kite Pharma will post ($5.82) earnings per share for the current year.

In other news, COO Cynthia M. Butitta sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $50.94, for a total value of $509,400.00. Following the completion of the transaction, the chief operating officer now owns 105,401 shares of the company’s stock, valued at $5,369,126.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $50.00, for a total value of $75,000.00. Following the completion of the transaction, the senior vice president now directly owns 16,367 shares of the company’s stock, valued at approximately $818,350. The disclosure for this sale can be found here. 20.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KITE. Geode Capital Management LLC increased its position in Kite Pharma by 5.4% in the first quarter. Geode Capital Management LLC now owns 282,806 shares of the biopharmaceutical company’s stock valued at $12,983,000 after buying an additional 14,380 shares in the last quarter. Nicholas Investment Partners LP purchased a new position in Kite Pharma during the first quarter valued at about $1,340,000. UBS Asset Management Americas Inc. increased its position in Kite Pharma by 2.8% in the first quarter. UBS Asset Management Americas Inc. now owns 377,578 shares of the biopharmaceutical company’s stock valued at $17,334,000 after buying an additional 10,167 shares in the last quarter. State Street Corp increased its position in 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 in the last quarter. Finally, Palisade Capital Management LLC NJ purchased a new position in Kite Pharma during the first quarter valued at about $366,000. 75.28% 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 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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