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

September 22, 2016 7:15 AM EDT
Get Alerts KITE Hot Sheet
Price: $55.86 -0.21%

Rating Summary:
    14 Buy, 2 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 9 | New: 77
Trade KITE Now!
Join SI Premium – FREE

Get access to the best calls on Wall Street with's Ratings Insider Elite. Get your Free Trial here.

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.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, FDA

Related Entities


Add Your Comment