Is Kite Pharma (NASDAQ:KITE) Now a ‘Buy’? Why did Standpoint Research Upgrade The Stock?

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Kite Pharma (NASDAQ:KITE) Stock Upgrade

In a note shared with investors on Tuesday, 15 December, Standpoint Research hiked shares of Kite Pharma (NASDAQ:KITE) to a solid “Buy” rating from their previous “Hold” rating.

From a total of 8 analysts covering Kite Pharma (NASDAQ:KITE) stock, 7 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 88% of the ratings are positive. The highest target price is $111 while the lowest target price is $72. The mean of all analyst targets is $91 with a 37.99% above today’s ($64.1) stock price. Kite Pharma was the topic of 12 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. FBR Capital maintained shares on December 8 with “Mkt Perform” rating. Standpoint Research initiated shares with “Buy” rating and $100 target share price in a report from an August 18. Standpoint Research downgraded KITE stock in a recent report from November 13 to “Hold” rating. Canaccord Genuity maintained the rating on August 14. Canaccord Genuity has a “Buy” rating and a $90 price target on shares. Finally, Mizuho maintained the stock with “Outperform” rating in a report issued on an August 17.

Approximately 1.21 million shares of stock traded hands or 1.68% up from the average. Kite Pharma Inc (NASDAQ:KITE) has risen 15.55% since May 12, 2015 and is uptrending. It has outperformed by 19.23% the S&P500.

The overall sentiment of institutions has decreased to 1.04 in Q2 2015. Its down 0.85, from 1.89 in 2015Q2. The ratio dropped, as 26 institutions have sold all the shares of Kite Pharma Inc that they owned while 49 funds have taken shares off the table. 19 funds have purchased shares for the first time while 59 added to their positions. These institutions now hold 33.00 million shares or 10.67% more than the 29.82 million shares they owned in 2015Q2.

The Fund Wildcat Capital Management Llc currently is holding shares equating to 49.02% of its total portfolio in Kite Pharma Inc representing a total of 2.36 million shares. Another fund,Ecor1 Capital Llc, is holding a total of 281,400 shares equating to 7.13% of their holdings. Additionally, Rtw Investments Llc has a 369,850 share stake in Kite Pharma Inc which represents 6.49% of their total portfolio. The Fund, Silver Rock Financial Llc, based out of California, has also built up a stake in the stock, which represents a total of 4.79% of their total portfolio. Finally Dsam Partners Llp, a fund which is based in the state of United Kingdom reported a total holdings of 265,640 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 31, 2015, shareholders of Kite Pharma Inc have witnessed 0 buys, and a total of 24 sales equating to a net activity of approximately $54.71 million . Roberts Margo R sold 6,145 shares worth approximately $384,509. Wiezorek Jeffrey sold 9,000 shares worth approximately $563,319. Sproule Rizwana F sold 9,567 shares worth approximately $598,731. Better Marc sold 9,000 shares worth approximately $493,326. The company insider Chang David D sold 7,700 shares worth $424,347.

Kite Pharma, Inc., is a clinical-stage biopharmaceutical company. The company has a market cap of $3.03 billion. The Firm is focused on the development and commercialization of cancer immunotherapy products to eradicate cancer cells. It currently has negative earnings. The Firm does this using its engineered autologous cell therapy , 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).

According to Zacks Investment Research, “Kite Pharma, Inc. is a clinical-stage biopharmaceutical company. It is focused on the development and commercialization of cancer immunotherapy products. The Company is developing a pipeline of eACT-based product candidates for the treatment of solid and hematological malignancies. Kite Pharma, Inc. is headquartered in Santa Monica, California.”

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