BTIG Maintains a Hold Rating on Kite Pharma

By Jason Carr

BTIG analyst Dane Leone maintained a Hold rating on Kite Pharma (NASDAQ: KITE) yesterday. The company’s shares closed yesterday at $53.68.

According to TipRanks.com, Leone is a 5-star analyst with an average return of 12.3% and a 71.3% success rate. Leone covers the Healthcare sector, focusing on stocks such as Corvus Pharmaceuticals Inc, Quest Diagnostics Inc., and Trillium Therapeutics.

Kite Pharma has an analyst consensus of Strong Buy, with a price target consensus of $72.

Based on Kite Pharma’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $7.34 million and GAAP net loss of $73.95 million. In comparison, last year the company earned revenue of $5.09 million and had a GAAP net loss of $27.44 million.

Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is neutral on the stock. Most recently, in June 2016, Roy Doumani, a Director at KITE sold 14,000 shares for a total of $812,530.

Kite Pharma, Inc. is a clinical stage biotechnology company, which engages in the development and commercialization of novel cancer immunotherapy products designed to target and kill cancer cells. It uses engineered autologous cell therapy, which involves the genetic engineering of T cells. Its lead product candidate, KTE-C19, a CAR-based therapy, which seeks treat patients with refractory diffuse large B-cell lymphoma, primary mediastinal large B-Cell lymphoma, and transformed follicular lymphoma. The company was founded by Arie S. Belldegrun, James S. Economou and Joshua A. Kazam in June 2009 and is headquartered in Santa Monica, CA.