Vetr Downgrades Kite Pharma As It Nears Resistance

Although Kite Pharma, Inc. KITE shares are trading up over 81 percent over the past six months, the Vetr community has downgraded the company from 2 to1.5 stars. Despite a successful run to the 81 handle, the company did show an 11 dollar drop off in the span of a few days following an underwhelming 20 percent miss on their revenue estimates in their first quarter earnings report in May. Since then, Kite Pharma has rallied back to the mid 80 handle, but that figure has shown to be the company’s resistance level since its IPO in 2014.

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Vetr members have given Kite Pharma a strong sell rating and a $76.29 price target. This price target is lower than the $81.60 price target from Wall Street analysts. The company opened Friday around $87.

Of all Vetr raters, 53 percent believe traders and investors should buy Kite Pharma stock.

For Vetr’s full analysis of Kite Pharma, go here.