Long
KDMN
Shares of Kadmon Holdings Inc (NASDAQ:KDMN) soared 20.56% or 75 cents to $4.28 per share on heavy volume after the company has announced that FDA has approved REZUROCK™ (belumosudil) 200 mg once daily (QD) for the treatment of adult and pediatric patients 12 years and older with chronic graft-versus-host disease (cGVHD) after failure of at least two prior lines of systemic therapy. With a surprise FDA approval Friday afternoon, Kadmon Holdings is on its way to becoming a commercial drugmaker. With the surge yesterday %K line is again on top over %D line showing the stock is back to new rally. Plus, the price is also back above the 200 day exponential moving average. The technical chart shows the buyers are back and a possible test of February highs around $5.73 is very likely. The 7 analysts offering 12-month price forecasts for KDMN have a median target of 10.00, with a high estimate of 20.00 and a low estimate of 8.00. The median estimate represents a +134.19% increase from the last price of 4.28. The company will host a conference call on Monday, July 19, 2021 at 8:00 a.m. ET to discuss the FDA approval of REZUROCK. I think the stock has room to go higher due to its high short interest. Watch the stock closely on Monday.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.