FY2017 Earnings Forecast for Kite Pharma, Inc. (KITE) Issued By Wedbush

Kite Pharma, Inc. (NASDAQ:KITE) – Equities researchers at Wedbush upped their FY2017 earnings per share (EPS) estimates for shares of Kite Pharma in a research report issued to clients and investors on Tuesday. Wedbush analyst D. Nierengarten now forecasts that the biopharmaceutical company will post earnings of ($7.70) per share for the year, up from their previous forecast of ($7.71). Wedbush has a “Neutral” rating on the stock. Wedbush also issued estimates for Kite Pharma’s Q4 2017 earnings at ($1.99) EPS, Q1 2018 earnings at ($1.89) EPS, Q2 2018 earnings at ($1.74) EPS, Q3 2018 earnings at ($1.81) EPS, Q4 2018 earnings at ($1.80) EPS, FY2018 earnings at ($7.24) EPS, FY2019 earnings at ($5.40) EPS, FY2020 earnings at ($1.10) EPS and FY2021 earnings at $0.91 EPS.

KITE has been the subject of several other reports. SunTrust Banks, Inc. lowered Kite Pharma from a “buy” rating to a “hold” rating in a research note on Monday. Goldman Sachs Group, Inc. (The) increased their price objective on Kite Pharma from $85.00 to $89.00 and gave the stock a “buy” rating in a research note on Tuesday, May 9th. BTIG Research lowered Kite Pharma from a “buy” rating to a “neutral” rating in a research note on Monday. Jefferies Group LLC reiterated a “buy” rating and set a $135.00 price objective (up from $121.00) on shares of Kite Pharma in a research note on Wednesday, August 9th. Finally, Cowen and Company reiterated an “outperform” rating on shares of Kite Pharma in a research note on Tuesday, July 4th. Fifteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $91.10.

TRADEMARK VIOLATION NOTICE: This news story was published by BBNS and is the property of of BBNS. If you are reading this news story on another domain, it was copied illegally and republished in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at https://baseballnewssource.com/markets/fy2017-earnings-forecast-for-kite-pharma-inc-kite-issued-by-wedbush/1565769.html.

Kite Pharma (KITE) opened at 177.99 on Thursday. Kite Pharma has a one year low of $39.82 and a one year high of $178.16. The firm’s market cap is $10.18 billion. The stock has a 50 day moving average of $124.14 and a 200 day moving average of $91.25.

Kite Pharma (NASDAQ:KITE) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.97) by $0.03. Kite Pharma had a negative net margin of 1,117.44% and a negative return on equity of 59.56%. The company had revenue of $10.10 million for the quarter, compared to the consensus estimate of $9.59 million. During the same period in the prior year, the firm posted ($0.91) EPS. The company’s quarterly revenue was up 110.4% compared to the same quarter last year.

A number of institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its position in shares of Kite Pharma by 1.4% in the second quarter. Teacher Retirement System of Texas now owns 3,651 shares of the biopharmaceutical company’s stock worth $378,000 after buying an additional 52 shares during the period. Amalgamated Bank boosted its position in shares of Kite Pharma by 6.6% in the first quarter. Amalgamated Bank now owns 5,131 shares of the biopharmaceutical company’s stock worth $403,000 after buying an additional 317 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Kite Pharma by 17.5% in the second quarter. Ameritas Investment Partners Inc. now owns 4,292 shares of the biopharmaceutical company’s stock worth $445,000 after buying an additional 638 shares during the period. California State Teachers Retirement System boosted its position in shares of Kite Pharma by 0.8% in the second quarter. California State Teachers Retirement System now owns 86,578 shares of the biopharmaceutical company’s stock worth $8,976,000 after buying an additional 709 shares during the period. Finally, Prudential Financial Inc. boosted its position in shares of Kite Pharma by 26.3% in the second quarter. Prudential Financial Inc. now owns 5,000 shares of the biopharmaceutical company’s stock worth $518,000 after buying an additional 1,040 shares during the period. Institutional investors and hedge funds own 89.14% of the company’s stock.

In related news, COO Cynthia M. Butitta sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $88.55, for a total value of $885,500.00. Following the transaction, the chief operating officer now owns 127,795 shares in the company, valued at $11,316,247.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Cynthia M. Butitta sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $120.72, for a total value of $1,810,800.00. Following the completion of the transaction, the chief operating officer now owns 132,795 shares in the company, valued at approximately $16,031,012.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 266,299 shares of company stock worth $28,364,633. 14.00% of the stock is owned by company insiders.

Kite Pharma Company Profile

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.

Earnings History and Estimates for Kite Pharma (NASDAQ:KITE)

Receive News & Ratings for Kite Pharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kite Pharma Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Los Angeles Dodgers Waiting But Magic Number Down to One
Los Angeles Dodgers Waiting But Magic Number Down to One
Young Girl Hit by Foul Ball Rushed to Hospital
Young Girl Hit by Foul Ball Rushed to Hospital
New Home Run Record Reached in Major League Baseball
New Home Run Record Reached in Major League Baseball
Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?
Cleveland Indians Winning Streak Snapped at 22
Cleveland Indians Winning Streak Snapped at 22
Tigers Player Might Play All Nine Positions During Same Game
Tigers Player Might Play All Nine Positions During Same Game


Leave a Reply

 
© 2006-2017 BBNS.