Today, Kite Pharma Inc. (KITE) Given “Buy” Rating at Stifel Nicolaus

Today, Kite Pharma Inc. (KITE) Given “Buy” Rating at Stifel Nicolaus

Kite Pharma Inc. (NASDAQ:KITE)‘s stock had its “buy” rating reaffirmed by analysts at Stifel Nicolaus in a research report issued to clients and investors on Saturday. They presently have a $74.00 price target on the biopharmaceutical company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 46.36% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Vetr downgraded Kite Pharma from a “strong-buy” rating to a “buy” rating and set a $63.91 target price for the company. in a research report on Tuesday, September 13th. Maxim Group reaffirmed a “buy” rating and issued a $77.00 target price (down from $87.00) on shares of Kite Pharma in a research report on Tuesday, August 9th. Jefferies Group reaffirmed a “buy” rating on shares of Kite Pharma in a research report on Friday, August 5th. Mizuho set a $80.00 target price on Kite Pharma and gave the company a “buy” rating in a research report on Tuesday, August 9th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $75.00 target price on shares of Kite Pharma in a research report on Friday, October 7th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $71.57.

Shares of Kite Pharma (NASDAQ:KITE) traded down 0.67% during trading on Friday, reaching $50.56. 513,204 shares of the company traded hands. Kite Pharma has a 1-year low of $38.41 and a 1-year high of $86.79. The stock’s 50 day moving average is $48.69 and its 200 day moving average is $52.36. The company’s market capitalization is $2.52 billion.

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

In other Kite Pharma news, SVP Jeffrey Wiezorek sold 1,500 shares of Kite Pharma stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $54.81, for a total transaction of $82,215.00. Following the transaction, the senior vice president now owns 17,311 shares of the company’s stock, valued at $948,815.91. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Cynthia M. Butitta sold 10,000 shares of Kite Pharma stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $54.13, for a total value of $541,300.00. Following the transaction, the chief operating officer now directly owns 105,477 shares in the company, valued at approximately $5,709,470.01. The disclosure for this sale can be found here. Company insiders own 20.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KITE. Teacher Retirement System of Texas raised its position in Kite Pharma by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 5,364 shares of the biopharmaceutical company’s stock worth $268,000 after buying an additional 651 shares during the last quarter. Moody Aldrich Partners LLC bought a new position in Kite Pharma during the second quarter worth about $694,000. Quantitative Investment Management LLC bought a new position in Kite Pharma during the second quarter worth about $1,010,000. Nationwide Fund Advisors raised its position in Kite Pharma by 13.4% in the second quarter. Nationwide Fund Advisors now owns 37,100 shares of the biopharmaceutical company’s stock worth $1,855,000 after buying an additional 4,398 shares during the last quarter. Finally, BlackRock Advisors LLC raised its position in Kite Pharma by 30.0% in the second quarter. BlackRock Advisors LLC now owns 46,323 shares of the biopharmaceutical company’s stock worth $2,316,000 after buying an additional 10,685 shares during the last quarter. 75.40% of the stock is currently owned by institutional investors.

Kite Pharma Company Profile

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