Zacks Investment Research Lowers Kadmon (NYSE:KDMN) to Hold

Zacks Investment Research downgraded shares of Kadmon (NYSE:KDMN) from a buy rating to a hold rating in a report issued on Tuesday morning, Zacks.com reports.

According to Zacks, “Kadmon Holdings, Inc. is a biopharmaceutical company. It engaged in the discovery, development and commercialization of small molecules and biologics to address disease areas of significant unmet medical need. The company is developing product candidates within autoimmune and fibrotic diseases, oncology and genetic diseases. Kadmon Holdings, Inc. is headquartered in New York. “

A number of other equities research analysts also recently weighed in on the company. HC Wainwright reiterated a buy rating and issued a $25.00 price target on shares of Kadmon in a report on Friday, May 22nd. Raymond James started coverage on Kadmon in a research note on Tuesday, May 19th. They set an outperform rating and a $7.00 price objective for the company. Oppenheimer restated a buy rating and set a $8.00 price objective on shares of Kadmon in a research note on Thursday, May 7th. Finally, ValuEngine upgraded Kadmon from a hold rating to a buy rating in a research note on Thursday, April 2nd. Seven investment analysts have rated the stock with a buy rating, Kadmon currently has an average rating of Buy and an average price target of $10.88.

Kadmon stock opened at $4.46 on Tuesday. The company has a current ratio of 6.42, a quick ratio of 6.40 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average price of $4.39 and a 200 day moving average price of $4.33. Kadmon has a 52 week low of $1.63 and a 52 week high of $5.50.

Kadmon (NYSE:KDMN) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.05). Kadmon had a negative return on equity of 142.79% and a negative net margin of 813.33%. The company had revenue of $6.74 million for the quarter, compared to analyst estimates of $0.38 million. As a group, equities research analysts expect that Kadmon will post -0.61 earnings per share for the current year.

In other Kadmon news, CEO Harlan Waksal purchased 16,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $2.93 per share, with a total value of $46,880.00. Following the completion of the purchase, the chief executive officer now owns 152,945 shares in the company, valued at approximately $448,128.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Cynthia Schwalm purchased 31,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was acquired at an average cost of $3.24 per share, with a total value of $100,440.00. Following the purchase, the director now owns 9,307 shares of the company’s stock, valued at approximately $30,154.68. The disclosure for this purchase can be found here. In the last three months, insiders bought 59,600 shares of company stock valued at $191,168. Company insiders own 2.95% of the company’s stock.

Several large investors have recently added to or reduced their stakes in KDMN. State Street Corp lifted its holdings in shares of Kadmon by 13.7% in the third quarter. State Street Corp now owns 2,284,164 shares of the company’s stock valued at $5,756,000 after buying an additional 274,891 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Kadmon in the fourth quarter valued at $478,000. EAM Investors LLC acquired a new stake in shares of Kadmon in the fourth quarter valued at $1,563,000. Acadian Asset Management LLC acquired a new stake in shares of Kadmon in the fourth quarter valued at $289,000. Finally, Bank of Montreal Can lifted its holdings in shares of Kadmon by 54.0% in the fourth quarter. Bank of Montreal Can now owns 23,744 shares of the company’s stock valued at $107,000 after buying an additional 8,329 shares during the period. 85.64% of the stock is owned by institutional investors.

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 products in various therapeutic areas, including 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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