Trade Report: The Kite Pharma Inc. (KITE) Receives “Neutral” Rating from BTIG Research

The Kite Pharma Inc. (KITE) Receives “Neutral” Rating from BTIG Research

Kite Pharma Inc. (NASDAQ:KITE)‘s stock had its “neutral” rating reiterated by stock analysts at BTIG Research in a report issued on Sunday.

Several other brokerages also recently issued reports on KITE. Jefferies Group restated a “buy” rating and set a $72.00 price objective on shares of Kite Pharma in a research report on Tuesday, September 27th. Mizuho reiterated a “buy” rating and issued a $80.00 price target on shares of Kite Pharma in a report on Friday, July 22nd. Stifel Nicolaus set a $74.00 price target on Kite Pharma and gave the company a “buy” rating in a report on Thursday. Zacks Investment Research upgraded Kite Pharma from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Tuesday, July 5th. Finally, Vetr downgraded Kite Pharma from a “hold” rating to a “sell” rating and set a $53.26 price target for the company. in a report on Monday, August 1st. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $74.46.

Shares of Kite Pharma (NASDAQ:KITE) traded up 0.11% during mid-day trading on Friday, hitting $55.72. The stock had a trading volume of 1,130,601 shares. The stock’s market cap is $2.76 billion. Kite Pharma has a 12-month low of $38.41 and a 12-month high of $89.84. The company’s 50 day moving average price is $57.29 and its 200 day moving average price is $52.12.

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Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.21) by $0.30. Kite Pharma had a negative return on equity of 32.91% and a negative net margin of 873.86%. The firm earned $4.80 million during the quarter, compared to the consensus estimate of $4.86 million. During the same period in the previous year, the firm posted ($0.26) EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities research analysts predict that Kite Pharma will post ($5.87) EPS for the current fiscal year.

In other Kite Pharma news, COO Cynthia M. Butitta sold 10,000 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $50.94, for a total value of $509,400.00. Following the completion of the transaction, the chief operating officer now directly owns 105,401 shares of the company’s stock, valued at approximately $5,369,126.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jeffrey Wiezorek sold 1,500 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $56.90, for a total transaction of $85,350.00. Following the completion of the transaction, the senior vice president now directly owns 16,367 shares of the company’s stock, valued at $931,282.30. The disclosure for this sale can be found here. Corporate insiders own 20.60% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Capital World Investors boosted its position in Kite Pharma by 46.4% in the second quarter. Capital World Investors now owns 1,523,000 shares of the biopharmaceutical company’s stock worth $76,150,000 after buying an additional 483,000 shares during the last quarter. JPMorgan Chase & Co. boosted its position in 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. First Republic Investment Management Inc. boosted its position in Kite Pharma by 101.1% in the first quarter. First Republic Investment Management Inc. now owns 739,867 shares of the biopharmaceutical company’s stock worth $33,967,000 after buying an additional 372,034 shares during the last quarter. State Street Corp boosted its position in Kite Pharma by 30.6% in the first quarter. State Street Corp now owns 1,332,147 shares of the biopharmaceutical company’s stock worth $61,162,000 after buying an additional 312,481 shares during the last quarter. Finally, Vivo Capital LLC purchased a new position in Kite Pharma during the first quarter worth $8,869,000. 75.28% of the stock is owned by institutional investors.

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