Kite Pharma, Inc. (NASDAQ:KITE) To Announce June 2016 Results
- Author: Zachary Reyes Mar 01, 2017,
Mar 01, 2017, 9:27
Kite Pharma, a pharmaceutical company based in the United States, on February 28 released results from the first 6 months of a treatment trial in which patients with non-Hodgkin Lymphoma were given a novel therapy called CAR-T, according to The Telegraph. The consensus price target (PT) of $71.46 means that the market expects Company shares to increase by 35.9% in the short run.
Best time to invest in stock market is when things are on odd side, and it's not easy how to pick stocks. BTIG Research reissued a "hold" rating on shares of Kite Pharma in a research report on Tuesday, November 22nd. Ong covers the Healthcare sector, focusing on stocks such as Teva Pharma, Celldex, and Acelrx. HC Wainwright's price target indicates a potential upside of 49.57% from the stock's current price. The stock presently has an average rating of "Buy" and a consensus price target of $69.23. (KITE) managed to surpass quarterly earnings per share estimates in 3 of the trailing twelve fiscal quarters, and has a positive trend with an average surprise of 30%. Couillard covers the Healthcare sector, focusing on stocks such as Bio-Rad Laboratories, Orasure Technologies, and Organovo Holdings. The company now has an average rating of "Buy" and an average price target of $70.66. Stifel Nicolaus reiterated a "buy" rating and set a $74.00 target price on shares of Kite Pharma in a report on Monday, December 5th. Insiders sold a total of 36,380 shares of company stock worth $1,838,547 over the last 90 days. See which 3 stocks are most likely to make moves following their insider activities. Net income from continuing operations for the fourth quarter 2016 was $50.3 million, or $0.37 per diluted share (after income attributable to noncontrolling interests), compared to $169.3 million, or $1.43 per diluted share in the fourth quarter 2015. Boyer & Corporon Wealth Management LLC now owns 10,025 shares of the biopharmaceutical company's stock valued at $501,000 after buying an additional 165 shares during the period. Following the completion of the transaction, the chief operating officer now owns 92,995 shares of the company's stock, valued at $4,729,725.70. Nationwide Fund Advisors raised its position in Kite Pharma by 30.1% in the third quarter. This recommendation lands on a scale between 1 and 5.
With no approved products in its portfolio, investor focus will primarily be on the company's cash burn and pipeline updates.
Patients enrolled in the Kite Pharma study were recruited partly because they had exhausted all other cancer therapy options with no success.
Axicabtagene ciloleucel (previously KTE-C19), its lead pipeline candidate, is now in the pivotal phase of a phase I-II study (ZUMA-1) in patients with refractory diffuse large B cell lymphoma (DLBCL) including primary mediastinal B cell lymphoma (PMBCL) and transformed follicular lymphoma (TFL). Institutional investors own 80.73% of the company's stock.