Trading Report: Today, Kite Pharma Inc. (KITE) Earns “Buy” Rating from RBC Capital Markets

Today, Kite Pharma Inc. (KITE) Earns “Buy” Rating from RBC Capital Markets

Kite Pharma Inc. (NASDAQ:KITE)‘s stock had its “buy” rating reissued by analysts at RBC Capital Markets in a report released on Thursday.

Several other research analysts also recently weighed in on the company. Vetr downgraded Kite Pharma from a “strong-buy” rating to a “buy” rating and set a $63.91 target price on the stock. in a research note on Tuesday, September 13th. Jefferies Group reaffirmed a “buy” rating and set a $72.00 price target on shares of Kite Pharma in a research report on Monday, September 19th. Barclays PLC lifted their price target on Kite Pharma from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 27th. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 price target on shares of Kite Pharma in a research report on Thursday, September 22nd. Finally, BTIG Research assumed coverage on Kite Pharma in a research report on Tuesday, August 30th. They set a “neutral” rating for the company. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $71.57.

Kite Pharma (NASDAQ:KITE) traded down 0.67% during mid-day trading on Thursday, reaching $50.56. 513,204 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $48.69 and its 200 day moving average price is $52.36. Kite Pharma has a one year low of $38.41 and a one year high of $86.79. The firm’s market cap is $2.52 billion.

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 Thomson Reuters’ consensus estimate of ($1.63) by $0.14. Kite Pharma had a negative return on equity of 39.26% and a negative net margin of 994.89%. 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 previous year, the business earned ($0.38) EPS. The firm’s revenue for the quarter was up 43.1% on a year-over-year basis. On average, equities analysts forecast that Kite Pharma will post ($5.56) EPS for the current year.

In related news, SVP Jeffrey Wiezorek sold 1,500 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $54.81, for a total value of $82,215.00. Following the completion of the transaction, the senior vice president now owns 17,311 shares of the company’s stock, valued at approximately $948,815.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Cynthia M. Butitta sold 10,000 shares of the company’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $54.13, for a total value of $541,300.00. Following the completion of the transaction, the chief operating officer now directly owns 105,477 shares of the company’s stock, valued at approximately $5,709,470.01. The disclosure for this sale can be found here. 20.60% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Group LTD boosted its position in Kite Pharma by 52.8% in the first quarter. BlackRock Group LTD now owns 29,816 shares of the biopharmaceutical company’s stock worth $1,370,000 after buying an additional 10,303 shares during the last quarter. Geode Capital Management LLC boosted its position in Kite Pharma by 5.4% in the first quarter. Geode Capital Management LLC now owns 282,806 shares of the biopharmaceutical company’s stock worth $12,983,000 after buying an additional 14,380 shares during the last quarter. LPL Financial LLC boosted its position in Kite Pharma by 12.6% in the first quarter. LPL Financial LLC now owns 25,776 shares of the biopharmaceutical company’s stock worth $1,290,000 after buying an additional 2,878 shares during the last quarter. Creative Planning boosted its position in Kite Pharma by 11.2% in the second quarter. Creative Planning now owns 20,215 shares of the biopharmaceutical company’s stock worth $1,011,000 after buying an additional 2,030 shares during the last quarter. Finally, Shikiar Asset Management Inc. boosted its position in Kite Pharma by 8.2% in the second quarter. Shikiar Asset Management Inc. now owns 39,500 shares of the biopharmaceutical company’s stock worth $1,975,000 after buying an additional 3,000 shares during the last quarter. 75.40% of the stock is owned by institutional investors.

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