Today, Stifel Nicolaus Reiterates Buy Rating for Kite Pharma Inc. (KITE)

Today, Stifel Nicolaus Reiterates Buy Rating for Kite Pharma Inc. (KITE)

Kite Pharma Inc. (NASDAQ:KITE)‘s stock had its “buy” rating reiterated by equities researchers at Stifel Nicolaus in a research note issued to investors on Saturday. They currently have a $74.00 target price on the biopharmaceutical company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 46.36% from the stock’s previous close.

A number of other research firms have also commented on KITE. Vetr upgraded shares of Kite Pharma from a “sell” rating to a “buy” rating and set a $58.58 price target for the company in a research report on Tuesday, August 2nd. FBR & Co restated an “outperform” rating and set a $78.00 price target on shares of Kite Pharma in a research report on Tuesday, September 27th. Maxim Group restated a “buy” rating and set a $77.00 price target (down from $87.00) on shares of Kite Pharma in a research report on Tuesday, August 9th. Canaccord Genuity set a $75.00 price target on shares of Kite Pharma and gave the company a “buy” rating in a research report on Wednesday, October 19th. Finally, RBC Capital Markets restated a “buy” rating on shares of Kite Pharma in a research report on Thursday. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $71.57.

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

Kite Pharma (NASDAQ:KITE) last released its quarterly earnings data on Wednesday, November 9th. The biopharmaceutical company reported ($1.49) earnings per share for the quarter, beating analysts’ consensus estimates 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 business earned $7.34 million during the quarter, compared to analyst estimates of $4.94 million. During the same period in the previous year, the business earned ($0.38) EPS. Kite Pharma’s revenue was up 43.1% compared to the same quarter last year. Equities research analysts predict that Kite Pharma will post ($5.56) earnings per share for the current year.

In other news, 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 transaction 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 $5,709,470.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the company’s stock in a transaction dated Thursday, September 1st. The shares were 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. Insiders own 20.60% of the company’s stock.

Several institutional investors have recently modified their holdings of KITE. Bainco International Investors increased its position 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 period. Capital International Investors increased its position 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 period. Highline Capital Management L.P. purchased a new position in shares of Kite Pharma during the third quarter valued at approximately $28,232,000. Capital World Investors increased its position 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 period. Finally, Victory Capital Management Inc. purchased a new position in shares of Kite Pharma during the third quarter valued at approximately $25,579,000. 75.40% of the stock is owned by hedge funds and other institutional investors.

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