Kite Pharma (KITE): Topline Data From PII ZUMA-1 Shows Approvability - Jefferies

September 27, 2016 7:09 AM EDT
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Price: $44.01 -3.66%

Rating Summary:
    14 Buy, 2 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 25 | Down: 28 | New: 8
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Jefferies analyst, Biren Amin, reiterated his Buy rating on shares of Kite Pharma (NASDAQ: KITE) after the company reported topline data from the PII ZUMA-1 study in NHL. The 3-month interim analysis reported an ORR/CR of 79%/52% with a 3-month rate of 44%/39%. In DLBCL, KITE reported an ORR/CR of 76%/47% that moderated to 39%/33% at 3 months. the analyst views the 3-month CR rate across the entire ZUMA-1 cohort as favorable and suggestive of a durable response.

These results support the approvability of KTE-C19 and there are likely to be more details at KITE's investor day (10/18/16) as well as more information around the commercial aspects of KTE-C19 and ASH in December. An FDA mtg is planned in the next few months that could lead to a BLA filing in DLBCL, TFL, and PMBCL by YE2016.

No change to the price target of $72.

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 $54.98 yesterday.

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