Trade Report: Today, Kite Pharma Inc. (KITE) Stock Rating Reaffirm by Stifel Nicolaus

Today, Kite Pharma Inc. (KITE) Stock Rating Reaffirm by Stifel Nicolaus

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

A number of other brokerages also recently weighed in on KITE. Vetr upgraded Kite Pharma from a “hold” rating to a “buy” rating and set a $63.91 target price for the company in a report on Wednesday, September 7th. BTIG Research reiterated a “neutral” rating on shares of Kite Pharma in a report on Tuesday, September 27th. FBR & Co reiterated an “outperform” rating and issued a $78.00 target price on shares of Kite Pharma in a report on Tuesday, September 27th. Jefferies Group reiterated a “buy” rating on shares of Kite Pharma in a report on Friday, August 5th. Finally, Mizuho set a $80.00 target price on Kite Pharma and gave the stock a “buy” rating in a report on Tuesday, August 9th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $71.57.

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

Kite Pharma (NASDAQ:KITE) last issued its quarterly earnings data on Wednesday, November 9th. The biopharmaceutical company reported ($1.49) earnings per share (EPS) for the quarter, topping the Zacks’ 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 company earned $7.34 million during the quarter, compared to the consensus estimate of $4.94 million. During the same period last year, the company earned ($0.38) earnings per share. The firm’s revenue was up 43.1% compared to the same quarter last year. On average, equities research analysts anticipate that Kite Pharma will post ($5.56) EPS for the current fiscal year.

In related 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 sale was disclosed in a legal filing with the SEC, which can be accessed through 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 shares were 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. Corporate insiders own 20.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bainco International Investors boosted 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 last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Kite Pharma by 117.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 521,568 shares of the biopharmaceutical company’s stock valued at $29,135,000 after buying an additional 281,826 shares during the last quarter. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Kite Pharma by 69.3% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 8,065 shares of the biopharmaceutical company’s stock valued at $450,000 after buying an additional 3,300 shares during the last quarter. Credit Suisse AG boosted its position in shares of Kite Pharma by 38.2% in the third quarter. Credit Suisse AG now owns 94,770 shares of the biopharmaceutical company’s stock valued at $5,295,000 after buying an additional 26,197 shares during the last quarter. Finally, Boyer & Corporon Wealth Management LLC boosted its position in shares of Kite Pharma by 1.8% in the third quarter. Boyer & Corporon Wealth Management LLC now owns 10,203 shares of the biopharmaceutical company’s stock valued at $570,000 after buying an additional 178 shares during the last quarter. 75.40% of the stock is currently owned by institutional investors.

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