Kite Pharma, Inc. (NASDAQ:KITE)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Group LLC in a report released on Wednesday. They currently have a $135.00 price objective on the biopharmaceutical company’s stock. Jefferies Group LLC’s target price suggests a potential upside of 11.59% from the stock’s current price.
A number of other research analysts also recently issued reports on KITE. Canaccord Genuity set a $120.00 price objective on Kite Pharma and gave the stock a “buy” rating in a report on Wednesday. Vetr downgraded Kite Pharma from a “buy” rating to a “hold” rating and set a $116.82 price objective for the company. in a report on Monday. Maxim Group downgraded Kite Pharma from a “buy” rating to a “hold” rating and set a $88.00 price objective for the company. in a report on Thursday, July 13th. Roth Capital reiterated a “buy” rating and set a $93.00 price objective on shares of Kite Pharma in a report on Tuesday, July 4th. Finally, Cowen and Company reiterated an “outperform” rating on shares of Kite Pharma in a report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $88.43.
Shares of Kite Pharma (NASDAQ:KITE) traded up 0.71% during trading on Wednesday, reaching $120.98. The company had a trading volume of 1,347,133 shares. The company has a 50 day moving average of $103.84 and a 200-day moving average of $79.27. The firm’s market capitalization is $6.84 billion. Kite Pharma has a 52-week low of $39.82 and a 52-week high of $121.91.
Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.97) by $0.03. Kite Pharma had a negative return on equity of 55.80% and a negative net margin of 1,166.54%. The company had revenue of $10.10 million during the quarter, compared to the consensus estimate of $9.59 million. During the same period in the prior year, the company earned ($0.91) earnings per share. The company’s revenue for the quarter was up 110.4% compared to the same quarter last year. Equities analysts expect that Kite Pharma will post ($8.36) earnings per share for the current year.
In other news, EVP Helen Susan Kim sold 26,649 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $109.28, for a total value of $2,912,202.72. Following the completion of the sale, the executive vice president now directly owns 28,763 shares of the company’s stock, valued at $3,143,220.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Timothy L. Moore sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $107.69, for a total value of $1,292,280.00. Following the completion of the sale, the executive vice president now directly owns 61,400 shares of the company’s stock, valued at $6,612,166. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,099 shares of company stock valued at $16,244,448. Insiders own 14.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Kite Pharma by 106,272.1% in the first quarter. BlackRock Inc. now owns 3,621,971 shares of the biopharmaceutical company’s stock worth $284,287,000 after buying an additional 3,618,566 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Kite Pharma by 235.0% in the first quarter. Point72 Asset Management L.P. now owns 819,900 shares of the biopharmaceutical company’s stock worth $64,354,000 after buying an additional 575,178 shares during the last quarter. Vanguard Group Inc. boosted its stake in Kite Pharma by 16.1% in the first quarter. Vanguard Group Inc. now owns 3,661,547 shares of the biopharmaceutical company’s stock worth $287,395,000 after buying an additional 507,289 shares during the last quarter. Columbia Wanger Asset Management LLC acquired a new stake in Kite Pharma during the first quarter worth about $35,452,000. Finally, Norges Bank acquired a new stake in Kite Pharma during the fourth quarter worth about $16,848,000. 84.96% of the stock is owned by 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 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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