A number of other research analysts also recently issued reports on the stock. Vetr downgraded shares of Kite Pharma from a buy rating to a hold rating and set a $83.76 price objective on the stock. in a research report on Monday. Roth Capital reiterated a buy rating and issued a $93.00 target price on shares of Kite Pharma in a research note on Thursday, April 6th. Cowen and Company reiterated an outperform rating on shares of Kite Pharma in a research note on Thursday, April 6th. Canaccord Genuity reiterated a buy rating and issued a $90.00 target price on shares of Kite Pharma in a research note on Monday, April 3rd. Finally, Maxim Group set a $100.00 target price on shares of Kite Pharma and gave the stock a buy rating in a research note on Monday, April 3rd. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $80.46.
Shares of Kite Pharma (NASDAQ:KITE) traded down 2.72% during trading on Thursday, hitting $78.94. 570,326 shares of the company traded hands. The company’s market capitalization is $3.96 billion. The company has a 50 day moving average price of $79.02 and a 200 day moving average price of $57.60. Kite Pharma has a 52 week low of $39.82 and a 52 week high of $88.58.
Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings data on Tuesday, February 28th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.75) by $0.05. Kite Pharma had a negative net margin of 994.89% and a negative return on equity of 39.26%. The firm had revenue of $4.90 million for the quarter, compared to the consensus estimate of $5.74 million. During the same quarter in the previous year, the firm earned ($0.54) EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, analysts expect that Kite Pharma will post ($8.14) earnings per share for the current year.
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In other Kite Pharma news, EVP Helen Susan Kim sold 2,400 shares of Kite Pharma stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $81.80, for a total transaction of $196,320.00. Following the completion of the sale, the executive vice president now directly owns 21,064 shares in the company, valued at approximately $1,723,035.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Cynthia M. Butitta sold 10,000 shares of Kite Pharma stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $50.56, for a total transaction of $505,600.00. Following the sale, the chief operating officer now owns 127,795 shares of the company’s stock, valued at $6,461,315.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 299,876 shares of company stock valued at $22,663,456. Company insiders own 20.60% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. boosted its stake in shares of Kite Pharma by 5.3% in the third quarter. Tocqueville Asset Management L.P. now owns 36,050 shares of the biopharmaceutical company’s stock valued at $2,014,000 after buying an additional 1,800 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of Kite Pharma during the third quarter valued at approximately $701,000. TD Asset Management Inc. boosted its stake in shares of Kite Pharma by 123.8% in the third quarter. TD Asset Management Inc. now owns 13,650 shares of the biopharmaceutical company’s stock valued at $762,000 after buying an additional 7,550 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Kite Pharma by 30.0% in the third quarter. Sei Investments Co. now owns 5,995 shares of the biopharmaceutical company’s stock valued at $334,000 after buying an additional 1,385 shares during the last quarter. Finally, DIAM Co. Ltd. boosted its stake in shares of Kite Pharma by 68.7% in the third quarter. DIAM Co. Ltd. now owns 9,581 shares of the biopharmaceutical company’s stock valued at $536,000 after buying an additional 3,902 shares during the last quarter. Institutional investors and hedge funds own 80.73% of the company’s stock.
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 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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