Kadmon (NYSE:KDMN) was upgraded by WBB Securities from a “sell” rating to a “hold” rating in a report issued on Wednesday, MarketBeat.com reports. The firm currently has a $2.90 price target on the stock. WBB Securities’ price objective suggests a potential upside of 5.45% from the company’s previous close.
Other equities analysts have also issued reports about the company. HC Wainwright set a $25.00 price target on Kadmon and gave the company a “buy” rating in a research note on Monday, August 13th. Zacks Investment Research upgraded Kadmon from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a research note on Wednesday, July 11th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $11.43.
KDMN traded up $0.01 on Wednesday, hitting $2.75. 2,871 shares of the stock traded hands, compared to its average volume of 860,125. Kadmon has a 52 week low of $2.62 and a 52 week high of $5.86. The firm has a market capitalization of $324.60 million, a price-to-earnings ratio of -1.93 and a beta of 3.63.
Several hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp grew its stake in shares of Kadmon by 395.3% in the 2nd quarter. Northern Trust Corp now owns 791,781 shares of the company’s stock valued at $3,159,000 after purchasing an additional 631,914 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Kadmon by 191.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 198,063 shares of the company’s stock valued at $790,000 after purchasing an additional 130,096 shares during the period. MetLife Investment Advisors LLC bought a new stake in shares of Kadmon in the 2nd quarter valued at approximately $148,000. Metropolitan Life Insurance Co. NY bought a new stake in shares of Kadmon in the 2nd quarter valued at approximately $105,000. Finally, Acuta Capital Partners LLC grew its stake in shares of Kadmon by 52.3% in the 2nd quarter. Acuta Capital Partners LLC now owns 9,060,014 shares of the company’s stock valued at $36,149,000 after purchasing an additional 3,110,014 shares during the period. Institutional investors own 69.66% of the company’s stock.
Kadmon Holdings, Inc, a biopharmaceutical company, discovers, develops, and commercializes small molecules and biologics primarily for the treatment of inflammatory and fibrotic diseases. The company markets and distributes a portfolio of branded generic ribavirin products for chronic hepatitis C virus infection; and distributes products in various therapeutic areas, including tetrabenazine for the treatment of chorea associated with Huntington's disease.
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