Wall Street brokerages expect Kadmon Holdings Inc (NYSE:KDMN) to announce sales of $3.72 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Kadmon’s earnings, with the highest sales estimate coming in at $5.13 million and the lowest estimate coming in at $2.30 million. Kadmon reported sales of $4.28 million during the same quarter last year, which would suggest a negative year over year growth rate of 13.1%. The firm is expected to issue its next earnings report on Wednesday, March 28th.
On average, analysts expect that Kadmon will report full year sales of $3.72 million for the current financial year, with estimates ranging from $13.10 million to $15.73 million. For the next financial year, analysts anticipate that the firm will report sales of $9.98 million per share, with estimates ranging from $4.65 million to $17.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Kadmon.
Several brokerages have issued reports on KDMN. Zacks Investment Research upgraded Kadmon from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a research report on Friday, January 12th. Jefferies Group lifted their price objective on Kadmon to $16.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of Kadmon in a research report on Friday, December 15th. Finally, Piper Jaffray Companies reiterated a “positive” rating and issued a $9.00 price objective (up previously from $7.00) on shares of Kadmon in a research report on Tuesday, February 13th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $10.21.
Institutional investors and hedge funds have recently modified their holdings of the business. Crestline Management LP bought a new position in Kadmon in the 3rd quarter valued at $2,011,000. Wells Fargo & Company MN increased its stake in shares of Kadmon by 23.2% in the 3rd quarter. Wells Fargo & Company MN now owns 73,956 shares of the company’s stock valued at $247,000 after buying an additional 13,923 shares during the period. AE Wealth Management LLC increased its stake in shares of Kadmon by 61.1% in the 4th quarter. AE Wealth Management LLC now owns 520,713 shares of the company’s stock valued at $1,885,000 after buying an additional 197,552 shares during the period. Sphera Funds Management LTD. acquired a new stake in shares of Kadmon in the 3rd quarter valued at $3,685,000. Finally, Vanguard Group Inc. increased its stake in shares of Kadmon by 166.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,508,869 shares of the company’s stock valued at $5,870,000 after buying an additional 941,549 shares during the period. Hedge funds and other institutional investors own 53.27% of the company’s stock.
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Kadmon Company Profile
Kadmon Holdings, Inc is an integrated biopharmaceutical company engaged in the discovery, development and commercialization of small molecules and biologics to address disease areas of various unmet medical needs. The Company is developing product candidates in a number of indications within autoimmune and fibrotic disease, oncology and genetic diseases.
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