BTIG Starts Kite Pharma (KITE) at Neutral

August 30, 2016 5:30 PM EDT
Get Alerts KITE Hot Sheet
Price: $47.72 +0.29%

Rating Summary:
    16 Buy, 2 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 22 | Down: 34 | New: 34
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BTIG initiated coverage on Kite Pharma (NASDAQ: KITE) with a Neutral rating. Analyst Dane Leone sees shares as fairly valued.

"We are generally skeptical of current investor expectations for the CD19 CAR T market, given the limited datasets and potential competition from CD19 bi-specific antibodies. Our CD19 CAR T market model is below consensus sales expectations out to 2025E, and we are also below consensus revenue expectations for Kite specifically. Our analysis for Kite places the current share price within +/-15% of fair value, which supports a Neutral recommendation," said the analyst.

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 $58.04 yesterday.

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