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

Zacks Investment Research lowered shares of Kadmon (NYSE:KDMN) from a buy rating to a hold rating in a report published on Saturday 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. “

Separately, Oppenheimer initiated coverage on Kadmon in a research report on Wednesday, June 26th. They issued an outperform rating and a $6.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Kadmon has an average rating of Buy and a consensus price target of $7.93.

Shares of NYSE KDMN opened at $2.64 on Friday. The company has a current ratio of 3.89, a quick ratio of 3.85 and a debt-to-equity ratio of 0.60. The stock has a 50 day simple moving average of $2.15. The company has a market cap of $323.70 million, a P/E ratio of -2.56 and a beta of 2.07. Kadmon has a 12 month low of $1.63 and a 12 month high of $4.39.

Kadmon (NYSE:KDMN) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.19. The company had revenue of $0.24 million for the quarter, compared to the consensus estimate of $0.34 million. Kadmon had a negative return on equity of 91.12% and a negative net margin of 2,509.88%. Sell-side analysts expect that Kadmon will post -0.51 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Investment Advisors LLC increased its position in shares of Kadmon by 134.5% during the second quarter. Capital Investment Advisors LLC now owns 28,815 shares of the company’s stock valued at $59,000 after purchasing an additional 16,525 shares during the period. Vivo Capital LLC increased its position in shares of Kadmon by 20.6% during the first quarter. Vivo Capital LLC now owns 12,606,605 shares of the company’s stock valued at $33,281,000 after purchasing an additional 2,152,060 shares during the period. Geode Capital Management LLC increased its position in shares of Kadmon by 9.5% during the fourth quarter. Geode Capital Management LLC now owns 1,100,657 shares of the company’s stock valued at $2,289,000 after purchasing an additional 95,907 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Kadmon during the first quarter valued at approximately $4,397,000. Finally, New York State Common Retirement Fund increased its position in shares of Kadmon by 71.5% during the fourth quarter. New York State Common Retirement Fund now owns 88,500 shares of the company’s stock valued at $184,000 after purchasing an additional 36,900 shares during the period. Institutional investors and hedge funds own 75.56% of the company’s stock.

Kadmon Company Profile

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.

Further Reading: Preferred Stock

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