Brokerages predict that Kite Pharma, Inc. (NASDAQ:KITE) will report earnings per share (EPS) of ($1.86) for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Kite Pharma’s earnings. The lowest EPS estimate is ($2.07) and the highest is ($1.53). Kite Pharma posted earnings of ($1.31) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 42%. The company is expected to issue its next quarterly earnings results on Monday, August 14th.
On average, analysts expect that Kite Pharma will report full-year earnings of ($8.01) per share for the current year, with EPS estimates ranging from ($8.67) to ($6.33). For the next year, analysts anticipate that the business will report earnings of ($6.96) per share, with EPS estimates ranging from ($9.34) to ($4.22). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Kite Pharma.
Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($1.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.68) by $0.06. Kite Pharma had a negative return on equity of 55.80% and a negative net margin of 1,166.54%. The company had revenue of $9.80 million for the quarter, compared to analyst estimates of $8.85 million. During the same period in the previous year, the business posted ($0.60) earnings per share. The firm’s revenue was up 92.2% compared to the same quarter last year.
A number of equities analysts have commented on KITE shares. Canaccord Genuity set a $75.00 target price on Kite Pharma and gave the company a “buy” rating in a research note on Tuesday, February 28th. HC Wainwright set a $85.00 target price on Kite Pharma and gave the company a “buy” rating in a research note on Tuesday, February 28th. Standpoint Research restated a “buy” rating and issued a $85.00 target price on shares of Kite Pharma in a research note on Tuesday, February 28th. Jefferies Group LLC restated a “buy” rating and issued a $72.00 target price on shares of Kite Pharma in a research note on Monday, February 27th. Finally, Roth Capital set a $83.00 target price on Kite Pharma and gave the company a “buy” rating in a research note on Tuesday, February 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Kite Pharma currently has a consensus rating of “Buy” and a consensus price target of $84.52.
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Kite Pharma (NASDAQ:KITE) traded down 2.37% during mid-day trading on Thursday, reaching $98.05. The company’s stock had a trading volume of 1,791,283 shares. The firm has a 50-day moving average of $78.48 and a 200-day moving average of $66.86. Kite Pharma has a 52 week low of $39.82 and a 52 week high of $103.65. The stock’s market capitalization is $5.54 billion.
In other news, Chairman Arie Belldegrun bought 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were purchased at an average price of $68.57 per share, with a total value of $1,165,690.00. Following the completion of the acquisition, the chairman now directly owns 85,507 shares in the company, valued at $5,863,214.99. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Cynthia M. Butitta sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $81.96, for a total value of $409,800.00. Following the sale, the chief operating officer now directly owns 122,795 shares in the company, valued at approximately $10,064,278.20. The disclosure for this sale can be found here. In the last three months, insiders have purchased 70,450 shares of company stock worth $4,863,126 and have sold 468,908 shares worth $39,604,542. 20.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Seven Eight Capital LP bought a new position in Kite Pharma during the fourth quarter valued at about $197,000. Baillie Gifford & Co. bought a new position in Kite Pharma during the first quarter valued at about $201,000. Turner Investments LLC bought a new position in Kite Pharma during the first quarter valued at about $235,000. Opus Point Partners Management LLC bought a new position in Kite Pharma during the fourth quarter valued at about $241,000. Finally, Pacad Investment Ltd. bought a new position in Kite Pharma during the fourth quarter valued at about $269,000. 85.33% of the stock is currently owned by institutional investors.
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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