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Kite Pharma Shares Its Vision: Here's How Wall Street Is Reacting

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Kite Pharma Inc (NASDAQ: KITE) hopes to seek regulatory approval next year for a treatment for a form of lymphoma, an analyst said Wednesday.

Jefferies' Biren Amin reiterated a Buy rating and $83 target following Kite executives meeting with analysts in New York Tuesday.

Canaccord's John Newman also reaffirmed a Buy rating on Kite with a $90 target.

Kite may file a biologic license application next year for its KTE-C19 drug as a treatment for diffuse large B-cell lymphoma, according to Amin.

The company expects to release interim results of a related lymphoma study in December at the annual meeting of the American Society of Hematology.

That study is aimed at gauging toxicity of the drug, according to Newman, who also expects Kite to start human testing later this year on drugs related to a form of human papillomavirus as well as colorectal, lung, and pancreatic cancers.

"Those are three very large commercial markets," Newman said.

Kite also hopes to file an investigational new drug application in the first half of 2016 related to two further anti-cancer antigens, Amin said.

The IND application would enable clinical trials to commence.

Separately, Kite on Tuesday unveiled a partnership with bluebird bio Inc (NASDAQ: BLUE) to develop and market T-cell therapies for HPV-associated cancers.

Kite, which has gained nearly 11 percent in the past five trading days, changed hands recently at $63.19, up $0.47.

Latest Ratings for KITE

DateFirmActionFromTo
Mar 2017Standpoint ResearchDowngradesBuyHold
Mar 2017Stifel NicolausDowngradesBuyHold
Mar 2017CitigroupDowngradesBuyNeutral

View More Analyst Ratings for KITE
View the Latest Analyst Ratings

Posted-In: Biren Amin Canaccord JefferiesAnalyst Color News Reiteration FDA Analyst Ratings

 

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