Barclays Maintains Kite Pharma Inc to Equal-weight with Price Target $60.00

Brokerage firm Barclays Maintains its rating on Kite Pharma Inc(NASDAQ:KITE). In a research note issued to the investors, the brokerage major Raises the price-target to $60.00 per share. The shares have been rated Equal-weight. The rating by Barclays was issued on Aug 9, 2016.

In a different note, Barclays said it Initiates Coverage on Kite Pharma Inc, according to a research note issued on Jul 6, 2016. The shares have been rated ‘Equal-weight’ by the firm. Raymond James said it Initiates Coverage on Kite Pharma Inc, according to a research note issued on Jun 2, 2016. The shares have been rated ‘Outperform’ by the firm.

Kite Pharma Inc (KITE) shares turned negative on Wednesdays trading session with the shares closing down -1.52 points or -2.46% at a volume of 7,61,618. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $62.82. The peak price level was also seen at $62.82 while the days lowest was $59.76. Finally the shares closed at $60.32. The 52-week high of the shares is $89.84 while the 52-week low is $38.41. According to the latest information available, the market cap of the company is $2,992 M.

Kite Pharma Inc(KITE) last announced its earnings results on Aug 8, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $4.79M. Analysts had an estimated revenue of $4.86M. Earnings per share were $-0.91. Analysts had estimated an EPS of $-1.21.

Several Insider Transactions has been reported to the SEC. On Aug 2, 2016, Jeffrey Wiezorek (SVP Clinical Development) sold 1,500 shares at $56.95 per share price.Also, 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.

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