Kadmon (KDMN) Raised to Hold at WBB Securities

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.

Kadmon (NYSE:KDMN) last issued its quarterly earnings results on Thursday, August 9th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.50. The firm had revenue of $0.36 million for the quarter, compared to the consensus estimate of $0.90 million. On average, equities research analysts expect that Kadmon will post -0.94 earnings per share for the current fiscal year.

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.

About Kadmon

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.

Featured Story: What is a Stop Order?

Receive News & Ratings for Kadmon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kadmon and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply