Kadmon (KDMN) Stock Price Up 7.6%

Kadmon Holdings Inc (NYSE:KDMN)’s share price rose 7.6% during trading on Thursday . The company traded as high as $2.64 and last traded at $2.55. Approximately 984,170 shares were traded during mid-day trading, an increase of 18% from the average daily volume of 833,924 shares. The stock had previously closed at $2.37.

KDMN has been the topic of a number of recent analyst reports. HC Wainwright set a $25.00 price target on shares of Kadmon and gave the company a “buy” rating in a research report on Monday, August 13th. Zacks Investment Research raised shares of Kadmon from a “hold” rating to a “buy” rating and set a $4.25 price target on the stock in a research report on Wednesday, July 11th. Finally, WBB Securities raised shares of Kadmon from a “sell” rating to a “hold” rating and set a $2.90 price target on the stock in a research report on Wednesday, October 17th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $11.43.

Kadmon (NYSE:KDMN) last released its quarterly earnings results on Thursday, August 9th. The company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.50. The firm had revenue of $0.36 million during the quarter, compared to the consensus estimate of $0.90 million. As a group, research analysts predict that Kadmon Holdings Inc will post -0.94 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in KDMN. BlackRock Inc. raised its position in shares of Kadmon by 639.8% in the first quarter. BlackRock Inc. now owns 1,540,225 shares of the company’s stock valued at $6,546,000 after purchasing an additional 1,332,035 shares during the period. Millennium Management LLC grew its stake in shares of Kadmon by 490.1% in the first quarter. Millennium Management LLC now owns 1,847,444 shares of the company’s stock worth $7,852,000 after acquiring an additional 1,534,371 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Kadmon in the first quarter worth $106,000. Rhumbline Advisers acquired a new stake in shares of Kadmon in the second quarter worth $256,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Kadmon by 191.4% in the second quarter. Bank of New York Mellon Corp now owns 198,063 shares of the company’s stock worth $790,000 after acquiring an additional 130,096 shares during the last quarter. 69.66% of the stock is currently owned by institutional investors.

About Kadmon (NYSE:KDMN)

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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