Why Kite Pharma Investors Should Expect Lymphoma Treatment FDA Approval In 2017

H.C. Wainwright reiterated its Buy rating on Kite Pharma Inc (NASDAQ: KITE) on expectations that its cancer drug KTE-C19 would be approved in 2017 given more granular data on hand.

“Given that KTE-C19 has demonstrated positive results in DLBCL (including relapsed and refractory subgroups), PMBCL, and TFL patients, we expect the FDA to accept a broad label for KTE-C19, assuming it is approved later in 2017 for a conservative timeline of a 2018 launch,” analyst Corey Davis wrote in a note.

Davis maintains his $78 price target on the stock, which was down 7.63 percent at time of writing to $47.20.