In a research report released Friday, Canaccord analyst John Newman reiterated a Buy rating on shares of Kite Pharma Inc (NASDAQ:KITE) with a price target of $90, as the company is slated to release interim data for its two pivotal studies for KTE-C19 in 2016. In addition, Kite expects data during 2016 from one or more of the NIH-run TCR studies in solid tumors, including MAGE A3, NY-ESO-1, and HPV E6.
Newman wrote, “ZUMA-1 in diffuse large B-cell, primary mediastinal B-cell, and transformed follicular lymphoma, and ZUMA-2 in mantle cell lymphoma should provide continued momentum for shares. Kite also plans a BLA filing by YE16 for both indications. In addition, ZUMA-3 and -4 will be launched by YE16 in adult and pediatric leukemia.”
Furthermore, “We believe data in solid tumors could surprise, as NIH has previously published data showing a 61% ORR in synovial cell sarcoma (6% CR, 55% PR), and a 55% ORR in melanoma (20% CR, 35% PR). Dr. Steven Rosenberg also recently presented data for MAGE A3 at the 2015 SITC meeting suggesting early responses for MAGE A3. Kite will also begin a study for its TCR against HPV E6 during 2016, although timing on data has not yet been disclosed.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst John Newman has a total average return of -0.5% and a 36.8% success rate. Newman has a 42.3% average return when recommending KITE, and is ranked #2832 out of 3842 analysts.
Out of the 7 analysts polled by TipRanks in the last 3 months, 6 rate Kite Pharma stock a Buy, while one rates the stock a Hold. With a slight upside potential of 0.12%, the stock’s consensus target price stands at $83.