Jefferies Starts Kite Pharma (KITE) at Buy

Jefferies initiates coverage on Kite Pharma (NASDAQ: KITE) with a Buy rating and a price target of $35.00.

Analyst Biren Amin comments, "KITE shares hold significant promise based on PI/II data with KTE-C19 observing robust responses in patients with refractory lymphomas and leukemias and thereby supporting our favorable outlook in it's pivotal PII trial in third-line DLBCL and its potential in refractory leukemia. KITE's eACT platform should progress two additional programs (NY-ESO-1 and EGFRvIII) into the clinic by '16 and both offer upside. We initiate with a Buy rating and a $35 PT."

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 $24.05 yesterday.

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