Kite Pharma Inc Receives a Buy from FBR Capital

By Carrie Williams

In a report issued on May 26, Edward White from FBR Capital reiterated a Buy rating on Kite Pharma Inc (NASDAQ: KITE). The company’s shares opened today at $73.

According to TipRanks.com, White is ranked 0 out of 5 stars with an average return of -3.4% and a 41.5% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and RXi Pharmaceuticals Corp.

Currently, the analyst consensus on Kite Pharma Inc is Moderate Buy and the average price target is $85.60, representing a 17.3% upside.

In a report issued on May 19, Jefferies also maintained a Buy rating on the stock with a $101 price target.

The company has a one year high of $88.58 and a one year low of $39.82. Currently, Kite Pharma Inc has an average volume of 1.8M.

Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KITE in relation to earlier this year. Earlier this month, Ran Nussbaum, a Director at KITE bought 9,832 shares for a total of $679,474.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.