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Vetr Downgrades The High-Flying Kite

Chris Dier-Scalise

The Vetr crowd on Wednesday downgraded their rating for Kite Pharma Inc (NASDAQ: KITE) from 4.5 stars (Strong Buy), issued 140 days ago, to 2 stars (Sell). At the time of the upgrade, crowd confidence in Kite was edging cautious with 57 percent.

It has been a good week for the biopharm company. The stock was up over 20 percent early in the week following promising results from trails of drug aimed to treat and aggressive form of non-Hodgkin lymphoma. The stock gained another 20 percent after a mostly positive earnings report, filed on the last day of February, which saw the company surpass analyst estimates for EPS by over 25 percent.

Shares in Kite closed at $79.62. At the rate it's growing, it's within striking distance of beating its all-time high of $86.43.

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Currently, the Vetr crowd's average target price for Kite is up at $63.65, which is well below the average analyst target price of $71.86. Less than 2 percent of Vetr users are holding KITE in their watch lists.

Latest Ratings for KITE

Date Firm Action From To
Mar 2017 Citigroup Downgrades Buy Neutral
Feb 2017 Standpoint Research Reiterates Buy Buy
Feb 2017 Wells Fargo Initiates Coverage On Market Perform

View More Analyst Ratings for KITE
View the Latest Analyst Ratings

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