Trade Report: Today, Kite Pharma Inc. (KITE) Earns “Hold” Rating from BTIG Research

Today, Kite Pharma Inc. (KITE) Earns “Hold” Rating from BTIG Research

BTIG Research restated their hold rating on shares of Kite Pharma Inc. (NASDAQ:KITE) in a research note released on Tuesday morning.

Several other brokerages also recently weighed in on KITE. Vetr raised shares of Kite Pharma from a hold rating to a buy rating and set a $63.91 target price on the stock in a research note on Wednesday, September 7th. FBR & Co reaffirmed an outperform rating and set a $78.00 target price on shares of Kite Pharma in a research note on Tuesday, September 27th. Jefferies Group reiterated a buy rating on shares of Kite Pharma in a report on Friday, August 5th. Maxim Group reiterated a buy rating and set a $77.00 price target (down previously from $87.00) on shares of Kite Pharma in a report on Tuesday, August 9th. Finally, Mizuho set a $80.00 price target on shares of Kite Pharma and gave the stock a buy rating in a report on Tuesday, August 9th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $71.57.

Kite Pharma (NASDAQ:KITE) opened at 50.90 on Tuesday. Kite Pharma has a 12-month low of $38.41 and a 12-month high of $87.09. The stock’s market cap is $2.54 billion. The firm has a 50 day moving average of $49.04 and a 200-day moving average of $52.33.

Kite Pharma (NASDAQ:KITE) last announced its earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($1.49) earnings per share for the quarter, topping the consensus estimate of ($1.63) by $0.14. Kite Pharma had a negative net margin of 994.89% and a negative return on equity of 39.26%. The firm had revenue of $7.34 million for the quarter, compared to the consensus estimate of $4.94 million. During the same period in the prior year, the firm earned ($0.38) EPS. The firm’s revenue for the quarter was up 43.1% on a year-over-year basis. On average, analysts expect that Kite Pharma will post ($5.56) earnings per share for the current year.

In other Kite Pharma news, COO Cynthia M. Butitta sold 10,000 shares of the company’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $54.13, for a total transaction of $541,300.00. Following the completion of the transaction, the chief operating officer now owns 105,477 shares in the company, valued at approximately $5,709,470.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $58.24, for a total transaction of $87,360.00. The disclosure for this sale can be found here. Company insiders own 20.60% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the company. Capital Research Global Investors increased its position in shares of Kite Pharma by 1.0% in the third quarter. Capital Research Global Investors now owns 6,075,623 shares of the biopharmaceutical company’s stock worth $339,384,000 after buying an additional 61,170 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Kite Pharma by 13.6% in the second quarter. JPMorgan Chase & Co. now owns 3,168,056 shares of the biopharmaceutical company’s stock worth $158,402,000 after buying an additional 379,661 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Kite Pharma by 6.3% in the second quarter. Vanguard Group Inc. now owns 2,935,406 shares of the biopharmaceutical company’s stock worth $146,771,000 after buying an additional 173,879 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Kite Pharma by 5.7% in the third quarter. BlackRock Fund Advisors now owns 1,751,216 shares of the biopharmaceutical company’s stock worth $97,823,000 after buying an additional 94,421 shares during the last quarter. Finally, Capital World Investors increased its position in shares of Kite Pharma by 2.4% in the third quarter. Capital World Investors now owns 1,559,000 shares of the biopharmaceutical company’s stock worth $87,086,000 after buying an additional 36,000 shares during the last quarter. Institutional investors own 75.40% of the company’s stock.

Kite Pharma Company Profile

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