Vetr Crowd Slowly Turning Positive On Kite Pharma, Now Rates It A Buy

Shares of Kite Pharma Inc KITE have been quite volatile this year, but are ultimately down 4.7 since January. Over the past three months, however, the stock has recuperated almost 23 percent of its value.

And, it seems like the Vetr crowd believes the rally will go on a bit further, as evidenced by its average price target of $62.43. This target implies a potential return of roughly 4.75 percent from current valuations.

Related Link: Here's How Crowdsourced Ratings Can Beat The Market

Seeking to better reflect this upside potential, the Vetr community decided to upgrade its rating on shares of Kite Pharma on Tuesday, from 3.0 (Hold) to 3.5 stars (Buy) — out of a possible five-star rating.

It should be noted, however, that only 50 percent of the crowd’s ratings are bullish at the time, meaning that the community is slowly turning positive.

Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.