Analysts at Anton Falk Capital Partners suggested that Kite Pharma's experimental cancer therapy KTE-C19 has blockbuster potential, as reported in the Tuesday. "We believe that Kite's lead drug KTE-C19 has the potential to surpass $1 billion in worldwide sales treating diffuse large B-cell lymphoma," the analysts remarked. "As we expect KTE-C19 to require only a single administration, we believe that Kite can justify a $200 000 price for the drug, which we estimate will lead to a profit despite our high $55 000 cost of production estimate," Anton Falk Capital Partners analysts added. The brokerage set a “buy” rating and a $190.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target indicates a potential upside of 10.90% from the stock’s current price.Several other analysts have also recently issued reports on the stock. Vetr cut shares of Kite Pharma from a “strong-buy” rating to a “buy” rating and set a $189 price target on the stock. in a research report on Tuesday, September 28th. Jefferies Group reissued a “buy” rating and set a $185.00 price target on shares of Kite Pharma in a research report on Monday, September 19th. Barclays PLC increased their price target on shares of Kite Pharma from $170.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 27th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $184.00 target price on shares of Kite Pharma in a report on Thursday, September 22nd. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $185.00 target price on shares of Kite Pharma in a report on Tuesday, September 26th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $180.57.
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