Kite Pharma Inc (KITE) is Initiated by Raymond James to Outperform, Price Target at $61

Kite Pharma Inc (KITE) was Initiated by Raymond James to “Outperform” and the brokerage firm has set the Price Target at $61. Raymond James advised their investors in a research report released on Jun 2, 2016.

Many Wall Street Analysts have commented on Kite Pharma Inc. Shares were Reiterated by Mizuho on May 10, 2016 to “Buy” and Lowered the Price Target to $ 80 from a previous price target of $90 .

On the company’s financial health, Kite Pharma Inc reported $-0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on May 9, 2016. Analyst had a consensus of $-0.73. The company had revenue of $5.10 million for the quarter, compared to analysts expectations of $4.61 million. The company’s revenue was up 77.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.36 EPS.

Kite Pharma Inc closed down -0.38 points or -0.74% at $50.87 with 5,43,347 shares getting traded on Wednesday. Post opening the session at $51.24, the shares hit an intraday low of $50.64 and an intraday high of $52.3 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Apr 6, 2016, Cynthia M Butitta (COO and CFO) sold 10,000 shares at $50.00 per share price. According to the SEC, on Mar 17, 2016, Jeffrey Wiezorek (SVP Clinical Development) sold 9,000 shares at $46.05 per share price. On Mar 17, 2016, Rizwana F Sproule (VP Regulatory Affairs) sold 8,500 shares at $46.58 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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.

Kite Pharma Inc

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