Kite Pharma, Inc. (KITE) Receives Average Rating of “Hold” from Analysts
Kite Pharma, Inc. (NASDAQ:KITE) has earned a consensus rating of “Hold” from the twenty-four brokerages that are presently covering the stock, MarketBeat reports. Fifteen research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $92.07.
Several research analysts have recently commented on KITE shares. FBR & Co reissued an “outperform” rating and issued a $91.00 price objective (up previously from $90.00) on shares of Kite Pharma in a research note on Tuesday, May 9th. Canaccord Genuity set a $115.00 price objective on shares of Kite Pharma and gave the company a “buy” rating in a research note on Tuesday, June 27th. Roth Capital reissued a “buy” rating and issued a $93.00 price objective on shares of Kite Pharma in a research note on Tuesday, July 4th. Jefferies Group LLC raised their price objective on shares of Kite Pharma from $101.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, July 10th. Finally, Cowen and Company reissued an “outperform” rating on shares of Kite Pharma in a research note on Tuesday, July 4th.
In related news, EVP Helen Susan Kim sold 6,251 shares of Kite Pharma stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $120.09, for a total value of $750,682.59. Following the completion of the transaction, the executive vice president now owns 22,259 shares in the company, valued at $2,673,083.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roy Doumani sold 15,000 shares of Kite Pharma stock in a transaction that occurred on Thursday, June 8th. The stock was 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 of the company’s stock, valued at approximately $13,095,836.16. The disclosure for this sale can be found here. Insiders sold 266,299 shares of company stock valued at $28,364,633 in the last quarter. 14.00% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Winslow Evans & Crocker Inc. bought a new stake in Kite Pharma during the second quarter worth $124,000. Baillie Gifford & Co. bought a new stake in Kite Pharma during the first quarter worth $201,000. Comerica Bank bought a new stake in Kite Pharma during the second quarter worth $201,000. Biondo Investment Advisors LLC bought a new stake in Kite Pharma during the second quarter worth $218,000. Finally, Turner Investments LLC bought a new stake in Kite Pharma during the first quarter worth $235,000. Institutional investors own 89.14% of the company’s stock.
Kite Pharma (NASDAQ KITE) traded up 0.06% during trading on Tuesday, reaching $178.16. 2,634,903 shares of the company were exchanged. The stock’s market capitalization is $10.19 billion. Kite Pharma has a 1-year low of $39.82 and a 1-year high of $178.26. The company’s 50-day moving average price is $115.89 and its 200-day moving average price is $87.67. Kite Pharma also was the target of some unusual options trading activity on Monday. Traders bought 23,676 put options on the stock. This is an increase of approximately 1,264% compared to the average daily volume of 1,736 put options.
Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $9.59 million. During the same quarter last year, the firm posted ($0.91) earnings per share. The business’s revenue for the quarter was up 110.4% compared to the same quarter last year. On average, equities analysts forecast that Kite Pharma will post ($7.96) EPS for the current year.
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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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