Analyst Rating Update on Kite Pharma (KITE)

Kite Pharma (NASDAQ:KITE) : 7 brokerage houses believe that Kite Pharma (NASDAQ:KITE) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 8 Wall Street Analysts endorse the stock as a Strong Buy with a rating of 1.13.

Kite Pharma (NASDAQ:KITE) : 7 investment research analysts covering Kite Pharma (NASDAQ:KITE) have an average price target of $72.57 for the near short term. The highest target price given by the Brokerage Firm to the stock is $87 and the lowest target is $61 for the short term. Analysts expect the variance to be within $9.14 of the average price.

For the current week, the company shares have a recommendation consensus of Buy. Also, Raymond James initiates coverage on Kite Pharma (NASDAQ:KITE) . Analysts at the Raymond James have a current rating of Outperform on the shares. The rating by the firm was issued on June 2, 2016.

Kite Pharma (NASDAQ:KITE): stock turned positive on Tuesday. Though the stock opened at $50.45, the bulls momentum made the stock top out at $51.13 level for the day. The stock recorded a low of $50.02 and closed the trading day at $50.88, in the green by 3.02%. The total traded volume for the day was 991,936. The stock had closed at $49.39 in the previous days trading.

In an insider trading activity,The director of Kite Pharma, Inc., Doumani Roy sold 14,000 shares at $58.06 on June 6, 2016. The Insider selling transaction had a total value worth of $812,840. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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 does this using its engineered autologous cell therapy (eACT), which is an approach to the treatment of cancer. eACT involves the genetic engineering of T cells to express either chimeric antigen receptors (CARs) or T cell receptors (TCRs). It is conducting a Phase II clinical trial of a TCR-based therapy and multiple Phase I-IIa clinical trials of CAR- and TCR-based therapies. The Companys lead product candidate KTE-C19, is a CAR-based therapy, for the treatment of refractory diffuse large B cell lymphoma (DLBCL), primary mediastinal B cell lymphoma (PMBCL) and transformed follicular lymphoma (TFL). It is developing a pipeline of eACT-based product candidates for the treatment of advanced solid and hematological malignancies: CD19CAR, KTE-C19CAR and EGFRvlll CAR, among others.

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