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.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorBiotechPreviewsReiterationAnalyst RatingsTrading IdeasGeneralCredit SuisseJason Kantor
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!