The Vetr crowd on Wednesday downgraded their rating for Kite Pharma Inc KITE from 4.5 stars (Strong Buy), issued 140 days ago, to 2 stars (Sell). At the time of the upgrade, crowd confidence in Kite was edging cautious with 57 percent.
It has been a good week for the biopharm company. The stock was up over 20 percent early in the week following promising results from trails of drug aimed to treat and aggressive form of non-Hodgkin lymphoma. The stock gained another 20 percent after a mostly positive earnings report, filed on the last day of February, which saw the company surpass analyst estimates for EPS by over 25 percent.
Shares in Kite closed at $79.62. At the rate it's growing, it's within striking distance of beating its all-time high of $86.43.
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Currently, the Vetr crowd's average target price for Kite is up at $63.65, which is well below the average analyst target price of $71.86. Less than 2 percent of Vetr users are holding KITE in their watch lists.
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