Kite Pharma, Inc. (KITE) Downgraded to Neutral at Guggenheim
A number of other research firms have also weighed in on KITE. UBS AG lowered shares of Kite Pharma from an outperform rating to a market perform rating in a research report on Monday, May 8th. Canaccord Genuity set a $120.00 price target on shares of Kite Pharma and gave the stock a buy rating in a research report on Wednesday, August 9th. Jefferies Group LLC reiterated a buy rating and issued a $135.00 price target (up from $121.00) on shares of Kite Pharma in a research report on Wednesday, August 9th. Stifel Nicolaus reiterated a hold rating and issued a $74.00 price target on shares of Kite Pharma in a research report on Thursday, August 10th. Finally, Vetr lowered shares of Kite Pharma from a buy rating to a hold rating and set a $116.82 price target for the company. in a research report on Monday, August 7th. Fifteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Kite Pharma currently has an average rating of Hold and a consensus price target of $88.93.
Shares of Kite Pharma (NASDAQ KITE) opened at 178.05 on Monday. Kite Pharma has a 52-week low of $39.82 and a 52-week high of $179.69. The firm’s market capitalization is $10.18 billion. The stock has a 50 day moving average of $115.89 and a 200-day moving average of $87.67.
Kite Pharma (NASDAQ:KITE) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.97) by $0.03. Kite Pharma had a negative net margin of 1,117.44% and a negative return on equity of 59.56%. The business had revenue of $10.10 million during the quarter, compared to analysts’ expectations of $9.59 million. During the same period in the prior year, the company earned ($0.91) earnings per share. The firm’s revenue was up 110.4% on a year-over-year basis. Equities analysts expect that Kite Pharma will post ($7.96) earnings per share for the current fiscal year.
In other Kite Pharma news, Director Roy Doumani sold 15,000 shares of the stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $84.48, for a total transaction of $1,267,200.00. Following the completion of the transaction, the director now owns 155,017 shares in the company, valued at $13,095,836.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jeffrey Wiezorek sold 10,000 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $104.32, for a total transaction of $1,043,200.00. Following the transaction, the senior vice president now owns 31,071 shares of the company’s stock, valued at approximately $3,241,326.72. The disclosure for this sale can be found here. Insiders have sold 266,299 shares of company stock valued at $28,364,633 in the last quarter. 14.00% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas raised its position in Kite Pharma by 1.4% in the second quarter. Teacher Retirement System of Texas now owns 3,651 shares of the biopharmaceutical company’s stock valued at $378,000 after buying an additional 52 shares during the period. Amalgamated Bank raised 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 valued at $403,000 after buying an additional 317 shares during the period. Ameritas Investment Partners Inc. raised its position in Kite Pharma by 17.5% in the second quarter. Ameritas Investment Partners Inc. now owns 4,292 shares of the biopharmaceutical company’s stock valued at $445,000 after buying an additional 638 shares during the period. California State Teachers Retirement System raised its position in Kite Pharma by 0.8% in the second quarter. California State Teachers Retirement System now owns 86,578 shares of the biopharmaceutical company’s stock valued at $8,976,000 after buying an additional 709 shares during the period. Finally, Prudential Financial Inc. raised its position in Kite Pharma by 26.3% in the second quarter. Prudential Financial Inc. now owns 5,000 shares of the biopharmaceutical company’s stock valued at $518,000 after buying an additional 1,040 shares during the period. Institutional investors and hedge funds own 89.14% 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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