Jefferies Group Analysts Lift Earnings Estimates for Kite Pharma Inc (KITE)
Kite Pharma Inc (NASDAQ:KITE) – Jefferies Group boosted their Q1 2017 earnings estimates for shares of Kite Pharma in a report issued on Thursday. Jefferies Group analyst B. Amin now expects that the firm will post earnings per share of ($1.77) for the quarter, up from their previous estimate of ($1.83). Jefferies Group has a “Buy” rating and a $101.00 price objective on the stock. Jefferies Group also issued estimates for Kite Pharma’s Q2 2017 earnings at ($1.83) EPS, Q3 2017 earnings at ($2.16) EPS, Q4 2017 earnings at ($2.37) EPS, FY2017 earnings at ($8.14) EPS, FY2018 earnings at ($6.54) EPS, FY2019 earnings at ($0.77) EPS, FY2020 earnings at $4.09 EPS and FY2021 earnings at $7.42 EPS.
Kite Pharma (NASDAQ:KITE) last posted its earnings results on Monday, February 27th. The biopharmaceutical company reported ($1.31) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.75) by $0.44. The business earned $4.90 million during the quarter, compared to analyst estimates of $5.74 million. Kite Pharma had a negative return on equity of 39.26% and a negative net margin of 994.89%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.54) EPS.
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A number of other research analysts have also recently commented on KITE. HC Wainwright started coverage on Kite Pharma in a research note on Monday, November 21st. They set a “buy” rating and a $78.00 target price on the stock. BTIG Research reaffirmed a “hold” rating on shares of Kite Pharma in a research note on Tuesday, November 22nd. Royal Bank of Canada reaffirmed a “buy” rating on shares of Kite Pharma in a research note on Thursday, November 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 target price on shares of Kite Pharma in a research note on Saturday, November 26th. Finally, Canaccord Genuity set a $75.00 target price on Kite Pharma and gave the company a “buy” rating in a research note on Tuesday, November 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. Kite Pharma presently has an average rating of “Buy” and an average target price of $78.14.
Shares of Kite Pharma (NASDAQ:KITE) opened at 84.94 on Monday. The firm has a 50 day moving average price of $63.53 and a 200-day moving average price of $54.03. Kite Pharma has a 12-month low of $39.82 and a 12-month high of $88.58. The company’s market cap is $4.26 billion.
Several hedge funds have recently made changes to their positions in the stock. Moody Aldrich Partners LLC raised its stake in shares of Kite Pharma by 11.2% in the third quarter. Moody Aldrich Partners LLC now owns 15,425 shares of the biopharmaceutical company’s stock worth $862,000 after buying an additional 1,550 shares during the last quarter. Rice Hall James & Associates LLC raised its stake in Kite Pharma by 12.7% in the third quarter. Rice Hall James & Associates LLC now owns 46,213 shares of the biopharmaceutical company’s stock worth $2,581,000 after buying an additional 5,212 shares in the last quarter. Strs Ohio raised its stake in Kite Pharma by 33.3% in the third quarter. Strs Ohio now owns 3,200 shares of the biopharmaceutical company’s stock worth $178,000 after buying an additional 800 shares in the last quarter. Tocqueville Asset Management L.P. raised its stake in Kite Pharma by 5.3% in the third quarter. Tocqueville Asset Management L.P. now owns 36,050 shares of the biopharmaceutical company’s stock worth $2,014,000 after buying an additional 1,800 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new stake in Kite Pharma during the third quarter worth $280,000. Hedge funds and other institutional investors own 80.73% of the company’s stock.
In related news, COO Cynthia M. Butitta sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $50.13, for a total value of $501,300.00. Following the completion of the sale, the chief operating officer now owns 127,795 shares in the company, valued at $6,406,363.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roy Doumani sold 18,800 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $74.46, for a total value of $1,399,848.00. Following the completion of the sale, the director now owns 121,017 shares of the company’s stock, valued at approximately $9,010,925.82. The disclosure for this sale can be found here. Insiders sold 178,600 shares of company stock valued at $12,347,646 in the last quarter. 20.60% of the stock is owned by company insiders.
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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