This KITE soared

In our  January  2016  issue, long-term analyst Ronnie Moas reinstated a long recommendation on Kite Pharmaceuticals (KITE) after the stock dipped below $75. 

“Recommending a name with no earnings and a $2.5 billion market cap is unusual for us. KITE deserves to be an exception,” Moas wrote. 

Moas based his outlook on clinical results of new chemotherapy treatments to treat specific types of Leukemia, a strong cash position and a commitment to R&D. 

It was a great call. KITE breached $100 this June and in late August, Gilead Sciences (GILD) announced an all-cash deal to acquire KITE for $11.9 billion at $180 per share, a 30% premium to its prior close.