Credit Suisse Sees Solid Q4 Earnings For Kite Pharma

In a report published Friday, Credit Suisse analyst Jason Kantor reiterated an Outperform rating and $79.00 price target on Kite Pharma Inc. KITE.

In the report, Credit Suisse noted, "KITE ended 2014 with $367M cash and cash equivalents and expects approximately $300M at year-end 2015.

"Our 2015 EPS estimate," the analysts added, "decreases to $1.15 from $1.72 on anticipated higher operating expenses."

They concluded: "Our 2015 estimate includes a forecast upfront payment for an ex-US partnership. Given the high cash balance at year-end 2014 and the recent geographic expansion with the acquisition of T cell Factory, KITE may be less likely sign an ex-US deal in 2015. Without this deal our EPS estimate would be ($1.74) for 2015."

Kite Pharma Inc. closed on Thursday at $57.75.