H.C. Wainwright Starts Kadmon Holdings (KDMN) at Buy
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H.C. Wainwright initiated coverage on Kadmon Holdings (NYSE: KDMN) with a Buy rating and a price target of $25. Analyst Andrew Fein noted its diverse pipeline.
"In our view, there are three kinds of biotech companies: (a) the first kind offers hard-to-value early-stage science under a strong team with a proven track record (usually a Boston spin-out favorite template); (b) the second kind offers a near-clinical or clinical agent/class with a novel MoA, typically as a high-risk and high-reward program; and (c) the third kind offers an agent/class with a de-risked and established MoA, and typically the price to pay for such “old reliable” science is the pressure of competition. In our view, Kadmon combines the best features of those three categories in one company," said the analyst.
Shares of Kadmon Holdings closed at $9.97 yesterday.
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