Kite Pharma, Inc. (NASDAQ:KITE) – Equities research analysts at Wedbush boosted their Q3 2017 earnings per share (EPS) estimates for shares of Kite Pharma in a research report issued on Wednesday. Wedbush analyst D. Nierengarten now forecasts that the biopharmaceutical company will post earnings per share of ($2.03) for the quarter, up from their prior estimate of ($2.14). Wedbush has a “Underperform” rating and a $54.00 price target on the stock. Wedbush also issued estimates for Kite Pharma’s Q4 2017 earnings at ($2.00) EPS, FY2017 earnings at ($7.71) EPS, Q1 2018 earnings at ($1.90) EPS, Q2 2018 earnings at ($1.76) EPS, Q3 2018 earnings at ($1.83) EPS, Q4 2018 earnings at ($1.82) EPS, FY2018 earnings at ($7.31) EPS, FY2019 earnings at ($5.62) EPS, FY2020 earnings at ($1.51) EPS and FY2021 earnings at $0.30 EPS.
A number of other equities research analysts also recently commented on the stock. Goldman Sachs Group, Inc. (The) increased their price objective on shares of Kite Pharma from $85.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, May 9th. Vetr downgraded shares of Kite Pharma from a “buy” rating to a “hold” rating and set a $83.76 price objective on the stock. in a research report on Monday, April 17th. Canaccord Genuity set a $115.00 price objective on shares of Kite Pharma and gave the company a “buy” rating in a research report on Monday, July 10th. Jefferies Group LLC set a $101.00 price objective on shares of Kite Pharma and gave the company a “buy” rating in a research report on Friday, May 19th. Finally, ValuEngine raised shares of Kite Pharma from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Kite Pharma presently has an average rating of “Hold” and a consensus target price of $88.93.
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Shares of Kite Pharma (NASDAQ:KITE) opened at 120.04 on Friday. Kite Pharma has a 52 week low of $39.82 and a 52 week high of $122.19. The firm has a 50-day moving average of $107.82 and a 200 day moving average of $81.83. The firm’s market capitalization is $6.86 billion.
Kite Pharma (NASDAQ:KITE) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.97) by $0.03. The company had revenue of $10.10 million during the quarter, compared to the consensus estimate of $9.59 million. Kite Pharma had a negative net margin of 1,117.44% and a negative return on equity of 59.56%. Kite Pharma’s revenue was up 110.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.91) earnings per share.
In related news, EVP Helen Susan Kim sold 79,949 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $119.56, for a total transaction of $9,558,702.44. Following the completion of the sale, the executive vice president now owns 98,613 shares in the company, valued at approximately $11,790,170.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Timothy L. Moore sold 6,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $110.06, for a total transaction of $660,360.00. Following the sale, the executive vice president now owns 55,400 shares of the company’s stock, valued at approximately $6,097,324. The disclosure for this sale can be found here. Insiders sold a total of 245,048 shares of company stock worth $25,803,151 over the last ninety days. Insiders own 14.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Kite Pharma by 106,272.1% in the first quarter. BlackRock Inc. now owns 3,621,971 shares of the biopharmaceutical company’s stock worth $284,287,000 after buying an additional 3,618,566 shares in the last quarter. TD Asset Management Inc. boosted its stake in shares of Kite Pharma by 148.7% in the first quarter. TD Asset Management Inc. now owns 61,550 shares of the biopharmaceutical company’s stock worth $4,831,000 after buying an additional 36,800 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Kite Pharma by 28.1% in the first quarter. Great West Life Assurance Co. Can now owns 5,013 shares of the biopharmaceutical company’s stock worth $392,000 after buying an additional 1,100 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Kite Pharma during the first quarter worth $282,000. Finally, Strs Ohio acquired a new stake in shares of Kite Pharma during the first quarter worth $447,000. Hedge funds and other institutional investors own 84.96% of the company’s stock.
About Kite Pharma
Kite Pharma, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products to target and kill cancer cells. The Company offers engineered autologous cell therapy, which is an approach to the treatment of cancer. Its therapy involves modifying a patient’s T cells outside the patient’s body, or ex vivo, causing the T cells to express chimeric antigen receptors (CARs), or T cell receptors (TCRs), and then reinfusing the engineered T cells back into the patient.
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