Kadmon (KDMN) Hits New 52-Week Low at $2.60

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Shares of Kadmon Holdings Inc (NYSE:KDMN) reached a new 52-week low during trading on Friday . The stock traded as low as $2.60 and last traded at $2.68, with a volume of 36258 shares trading hands. The stock had previously closed at $2.74.

Several research firms recently commented on KDMN. Zacks Investment Research raised shares of Kadmon from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a research note on Wednesday, July 11th. HC Wainwright set a $25.00 target price on shares of Kadmon and gave the company a “buy” rating in a research note on Monday, August 13th. Finally, WBB Securities raised shares of Kadmon from a “sell” rating to a “hold” rating and set a $2.90 target price for the company in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Kadmon currently has a consensus rating of “Buy” and an average target price of $11.43.

The company has a market cap of $324.60 million, a P/E ratio of -1.93 and a beta of 3.63.

Kadmon (NYSE:KDMN) last released its earnings results on Thursday, August 9th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of ($0.26) by $0.50. The business had revenue of $0.36 million for the quarter, compared to analyst estimates of $0.90 million. Equities analysts predict that Kadmon Holdings Inc will post -0.94 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Kadmon in the 1st quarter valued at approximately $106,000. Voya Investment Management LLC purchased a new stake in shares of Kadmon in the 2nd quarter valued at approximately $101,000. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Kadmon in the 2nd quarter valued at approximately $105,000. Verition Fund Management LLC purchased a new stake in shares of Kadmon in the 1st quarter valued at approximately $139,000. Finally, MetLife Investment Advisors LLC purchased a new stake in shares of Kadmon in the 2nd quarter valued at approximately $148,000. 69.66% of the stock is owned by institutional investors and hedge funds.

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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