Gilead Sciences broadens portfolio with $11bn Kite Pharma Inc acquisition

Marco Green
August 30, 2017

The sale indicates that Kite Pharma's innovative cancer treatment is likely to be approved for use by patients with non-Hodgkin lymphoma in 2017.

These funds have also shifted positions in (KITE). Blackrock Institutional Tru Na invested in 0.02% or 3.00 million shares. Da Davidson And Com holds 144 shares or 0% of its portfolio. D E Shaw And, New York-based fund reported 10,282 shares. Corporate insiders own 14.00% of the company's stock. (NASDAQ:GILD). Bowen Hanes Inc has invested 0.03% of its portfolio in Gilead Sciences, Inc. 903,573 are held by Fmr. Carroll Assoc Inc holds 0% or 85 shares in its portfolio. (NASDAQ:GILD). Badgley Phelps And Bell reported 194,641 shares.

SPECTRAL MEDICAL ORD (OTCMKTS:EDTXF) had an increase of 517.14% in short interest.

COPYRIGHT VIOLATION NOTICE: "Kite Pharma, Inc". Stellar Mngmt Lc has 0.73% invested in Gilead Sciences, Inc.

Since March 1, 2017, it had 0 insider purchases, and 8 insider sales for $21.55 million activity.

USA stocks rose slightly on Friday, snapping a two-week streak of losses for the Dow and the S&P, after Yellen's speech at the annual meeting of central bankers in Jackson Hole, Wyoming did not comment on the path of interest rate hikes for the central bank. 10,000 shares were sold by BUTITTA CYNTHIA M, worth $885,491.

Kite Pharma (NASDAQ:KITE) last posted its quarterly earnings results on Tuesday, August 8th. Shares for $5.16 million were sold by MARTIN JOHN C on Wednesday, March 1. Wendell David Associates Inc sold 12,715 shares as Gilead Sciences (GILD)'s stock declined 8.05%.

USA crude futures, which earlier hit two-year highs, dipped more than 1 percent to $47.32 over concerns that refinery shutdowns could reduce demand for American crude. If the $192.47 price target is reached, the company will be worth $815.20 million more. TD Asset Management Inc. now owns 61,550 shares of the biopharmaceutical company's stock worth $4,831,000 after buying an additional 36,800 shares during the last quarter. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 11.72 million shares traded or 46.87% up from the average. Gilead's rather rich buyout of Kite Pharma for what amounts to a 29% premium, however, suggests that the top players in the industry have faith in the power of this novel anti-cancer fighting platform. It has outperformed by 38.77% the S&P500.

The Los Angeles-based Kite Pharma company, which was established by an Israeli professor, will be sold for nearly $12 billion. Therefore 50% are positive. Kite Pharma has a one year low of $39.82 and a one year high of $179.69.

Gilead has a Zacks Rank #2 (Buy) with VGM (Value-Growth-Momentum) score of C. On the other hand, Kite Pharma has a Zacks Rank #3 (Hold) with a VGM score of F, at the time of writing. The firm earned "Buy" rating on Tuesday, August 4 by Zacks. According to the Wall Street Journal, analysts are looking for the drug to generate sales of $1.7 billion by 2022. The firm has "Sell" rating by Investec given on Thursday, October 22. As per Monday, January 11, the company rating was maintained by Investec.

Kite's shares were halted in premarket trading on Monday, while Gilead's shares were up 2.7 percent. The stock has "Neutral" rating by Wedbush on Thursday, February 2. The company is developing a pipeline of eACT-based product candidates for the treatment of solid and hematological malignancies.

Kite Pharma (NASDAQ:KITE) opened at 178.05 on Monday. Kite Pharma Inc (NASDAQ:KITE) has risen 55.47% since August 28, 2016 and is uptrending. Bnp Paribas Arbitrage Sa who had been investing in Gilead Sciences Inc for a number of months, seems to be less bullish one the $98.55 billion market cap company.

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