Kite Pharma Inc (KITE) was Reiterated by Maxim Group to “Buy” while Lowering the Price Target of the company shares to $ 77 from a previous price target of $87 . Maxim Group advised their investors in a research report released on Aug 9, 2016.
Many Wall Street Analysts have commented on Kite Pharma Inc. Company shares were Reiterated by Stifel on Jul 13, 2016 to “Buy”, Firm has raised the Price Target to $ 74 from a previous price target of $63 .Raymond James Initiated Kite Pharma Inc on Jun 2, 2016 to “Outperform”, Price Target of the shares are set at $61.
On the company’s financial health, Kite Pharma Inc reported $-0.91 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus of $-0.84. The company had revenue of $4.80 million for the quarter, compared to analysts expectations of $4.78 million. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.26 EPS.
Kite Pharma Inc closed down -0.34 points or -0.58% at $58.25 with 5,65,597 shares getting traded on Monday. Post opening the session at $58.8, the shares hit an intraday low of $57.311 and an intraday high of $59.149 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Aug 2, 2016, Jeffrey Wiezorek (SVP Clinical Development) sold 1,500 shares at $56.95 per share price. According to the SEC, on Jun 27, 2016, Cynthia M Butitta (Chief Operating Officer) sold 20,000 shares at $50.71 per share price. On Jun 8, 2016, Roy Doumani (director) sold 14,000 shares at $58.06 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.