Today, Kite Pharma Inc. (KITE) Receives New Coverage from Analysts at HC Wainwright

Today, Kite Pharma Inc. (KITE) Receives New Coverage from Analysts at HC Wainwright

HC Wainwright began coverage on shares of Kite Pharma Inc. (NASDAQ:KITE) in a research note issued to investors on Monday morning. The brokerage issued a buy rating and a $78.00 target price on the biopharmaceutical company’s stock.

A number of other research firms have also recently commented on KITE. Vetr cut Kite Pharma from a buy rating to a hold rating and set a $53.26 price target for the company. in a report on Tuesday, July 26th. Jefferies Group reissued a buy rating and set a $72.00 price target on shares of Kite Pharma in a report on Tuesday, October 18th. Barclays PLC boosted their price target on Kite Pharma from $60.00 to $65.00 and gave the stock an equal weight rating in a report on Tuesday, September 27th. Canaccord Genuity set a $75.00 price target on Kite Pharma and gave the stock a buy rating in a report on Wednesday, October 19th. Finally, Stifel Nicolaus reissued a buy rating and set a $74.00 price target on shares of Kite Pharma in a report on Friday, September 30th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $71.57.

Kite Pharma (NASDAQ:KITE) opened at 50.90 on Monday. The firm’s market cap is $2.54 billion. The firm has a 50-day moving average price of $49.04 and a 200 day moving average price of $52.33. Kite Pharma has a 1-year low of $38.41 and a 1-year high of $87.09.

Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings data on Wednesday, November 9th. The biopharmaceutical company reported ($1.49) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.63) by $0.14. The firm earned $7.34 million during the quarter, compared to analysts’ expectations of $4.94 million. Kite Pharma had a negative return on equity of 39.26% and a negative net margin of 994.89%. The company’s quarterly revenue was up 43.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.38) EPS. Equities analysts predict that Kite Pharma will post ($5.56) earnings per share for the current year.

In related news, SVP Jeffrey Wiezorek sold 1,500 shares of the company’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $58.24, for a total transaction of $87,360.00. 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 the company’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $54.13, for a total value of $541,300.00. Following the sale, the chief operating officer now owns 105,477 shares in the company, valued at approximately $5,709,470.01. The disclosure for this sale can be found here. Corporate insiders own 20.60% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Bainco International Investors raised its stake in shares of Kite Pharma by 2,722.8% in the third quarter. Bainco International Investors now owns 671,540 shares of the biopharmaceutical company’s stock valued at $37,512,000 after buying an additional 647,750 shares during the last quarter. Capital International Investors raised its stake in shares of Kite Pharma by 81.3% in the third quarter. Capital International Investors now owns 1,314,200 shares of the biopharmaceutical company’s stock valued at $73,411,000 after buying an additional 589,500 shares during the last quarter. Highline Capital Management L.P. acquired a new stake in shares of Kite Pharma during the third quarter valued at approximately $28,232,000. Capital World Investors raised its stake in shares of Kite Pharma by 46.4% in the second quarter. Capital World Investors now owns 1,523,000 shares of the biopharmaceutical company’s stock valued at $76,150,000 after buying an additional 483,000 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of Kite Pharma during the third quarter valued at approximately $25,579,000. Institutional investors own 75.40% of the company’s stock.

About Kite Pharma

Related posts

Leave a Comment