Kite Pharma (KITE): Reiterating Buy Ahead of ZUMA-1 Study - Stifel

September 22, 2016 7:15 AM EDT
Get Alerts KITE Hot Sheet
Price: $47.21 -0.88%

Rating Summary:
    16 Buy, 2 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Stifel analyst, Thomas Shrader, reiterated his Buy rating on shares of Kite Pharma (NASDAQ: KITE) ahead of top-line data from the interim analysis of the ZUMA-1 study, due by the end of the month.

The analyst noted that conversations with clinicians that treat these patients suggest that a CR rate above 25% would be impressive and highly approvable. Conventional salvage chemotherapy in these patients would be expected to produce a CR rate of around 8%.

Based on the first seven patients treated, Kite has reported a CR rate of 57%. The analyst believes that expecting to keep up this pace might be unrealistic and he would view a CR rate of 40% (five times current SOC) to be exciting despite being lower than earlier-stage studies conducted in single centers where no physician learning curve was involved.

No change to the price target of $74.

For an analyst ratings summary and ratings history on Kite Pharma click here. For more ratings news on Kite Pharma click here.

Shares of Kite Pharma closed at $55.58 yesterday.

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