Mizuho Reiterates Optimistic View on Kite Pharma Inc Following Investor Day
Mizuho analyst Peter Lawson weighed in with some commentary on Kite Pharma Inc (NASDAQ:KITE) following the company’s Investor Day. The analyst reiterated an Outperform rating on the stock with a price target of $90. Shares of KITE are currently trading at $65.99, up $3.27, or 5.21%.
Lawson observed, “While there were no clinical data updates or significant announcements, we gained 1) a deeper understanding of the platform and 2) a frank KOL discussion into the future of cancer immunotherapy. Industry collaborations and close academic ties put KITE in a strong position as therapy moves out of lymphoma. “Off-the-shelf” approaches were downplayed, as was the importance of defined-cell populations and long-term persistence, contrasting with some competitors. Catalysts remain 4Q data (ASH) and 2016 readouts.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Peter Lawson has a total average return of 18.4% and a 71.7% success rate. Lawson is ranked #300 out of 3640 analysts.
All 7 analysts polled by TipRanks, rate KITE stock a Buy. With a return potential of 36.80%, the stock’s consensus target price stands at $85.80.