Today, Kite Pharma Inc. (KITE) Upgraded at Vetr Inc.

Today, Kite Pharma Inc. (KITE) Upgraded at Vetr Inc.

Vetr upgraded shares of Kite Pharma Inc. (NASDAQ:KITE) from a buy rating to a strong-buy rating in a research report released on Wednesday. Vetr currently has $64.48 price target on the biopharmaceutical company’s stock.

Several other research analysts have also commented on KITE. Jefferies Group reiterated a buy rating and issued a $72.00 price target on shares of Kite Pharma in a research report on Saturday, July 9th. Canaccord Genuity restated a buy rating and set a $75.00 target price on shares of Kite Pharma in a research report on Wednesday, July 13th. Stifel Nicolaus restated a buy rating and set a $74.00 target price on shares of Kite Pharma in a research report on Friday, September 30th. Zacks Investment Research upgraded Kite Pharma from a hold rating to a buy rating and set a $57.00 target price for the company in a research report on Tuesday, July 5th. Finally, BTIG Research restated a neutral rating on shares of Kite Pharma in a research report on Sunday, October 9th. Three equities research analysts have rated the stock with a hold rating, thirteen 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 an average price target of $73.03.

Kite Pharma (NASDAQ:KITE) opened at 49.30 on Wednesday. The company’s market cap is $2.45 billion. The company’s 50-day moving average price is $56.37 and its 200-day moving average price is $52.40. Kite Pharma has a 52-week low of $38.41 and a 52-week high of $89.84.

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

In other news, EVP Helen Susan Kim sold 35,900 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $60.27, for a total transaction of $2,163,693.00. Following the transaction, the executive vice president now directly owns 42,500 shares of the company’s stock, valued at $2,561,475. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Cynthia M. Butitta sold 10,000 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $50.94, for a total value of $509,400.00. Following the transaction, the chief operating officer now directly owns 105,401 shares in the company, valued at $5,369,126.94. The disclosure for this sale can be found here. 20.60% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. Strs Ohio acquired a new position in shares of Kite Pharma during the second quarter worth about $120,000. Picton Mahoney Asset Management acquired a new position in shares of Kite Pharma during the second quarter worth about $135,000. BNP Paribas Arbitrage SA increased its position in shares of Kite Pharma by 115.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,301 shares of the biopharmaceutical company’s stock worth $184,000 after buying an additional 1,768 shares during the last quarter. Howard Hughes Medical Institute increased its position in shares of Kite Pharma by 11.3% in the second quarter. Howard Hughes Medical Institute now owns 3,431 shares of the biopharmaceutical company’s stock worth $172,000 after buying an additional 348 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Kite Pharma by 91.9% in the second quarter. BlackRock Inc. now owns 4,022 shares of the biopharmaceutical company’s stock worth $201,000 after buying an additional 1,926 shares during the last quarter. 75.31% of the stock is currently owned by institutional investors and hedge funds.

Kite Pharma Company Profile

Kite Pharma, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products to eradicate cancer cells. The Company offers engineered autologous cell therapy (eACT), which is an approach to the treatment of cancer. It is conducting over four pivotal studies of its lead product candidate, KTE-C19, a CAR-based therapy.

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