Stifel Reiterates Bullish View on Kite Pharma (KITE) Following New Trial News
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Stifel analyst Thomas Shrader reiterated a Buy rating and $74 price target on Kite Pharma (NASDAQ: KITE) after the company announced this morning a new trial combining KTE-019 with Genentech’s anti-PD-L1 antibody atezolizumab.
Shrader commented, "This cost-shared trial will explore using an immuno-stimulatory signal to keep CAR-T cells active longer in patients. The trial will focus on chemo-refractory DLBCL patients rather than SCT relapsed DLBCL patients – a group that by all accounts, looks more difficult to treat. We expect this trial to be relatively exploratory with low doses tested first along with some experimentation as to when to add the immuno-stimulatory signal."
Shares of Kite Pharma closed at $56.41 yesterday.
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