Kardigan (NASDAQ:KARD) Given New $36.00 Price Target at Leerink Partners

Key Points

• Leerink Partners lowered its Kardigan price target from $37 to $36 but maintained an “outperform” rating; the new target implies about 159% upside from the stock’s $13.92 price.
• Analyst views are mixed, but the consensus rating is “Moderate Buy” with a $41 average price target. Ratings include two Strong Buys, six Buys, one Hold, and one Sell.
• Kardigan shares fell 1.4% Friday. The company reported a quarterly loss of $0.64 per share, narrower than analysts’ expected loss of $0.80.

Kardigan (NASDAQ:KARD - Get Free Report) had its target price decreased by analysts at Leerink Partners from $37.00 to $36.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Leerink Partners's target price points to a potential upside of 158.62% from the stock's current price.

Several other research firms have also weighed in on KARD. UBS Group started coverage on shares of Kardigan in a report on Monday, October 12th. They issued a "buy" rating and a $25.00 target price on the stock. Wall Street Zen lowered shares of Kardigan from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Cantor Fitzgerald started coverage on shares of Kardigan in a research note on Thursday, October 29th. They set an "overweight" rating and a $50.00 price objective on the stock. HC Wainwright assumed coverage on shares of Kardigan in a report on Wednesday, November 4th. They set a "buy" rating and a $42.00 price objective for the company. Finally, Weiss Ratings cut shares of Kardigan from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $41.00.

Kardigan Trading Down 1.4%

KARD stock traded down $0.20 during trading on Friday, hitting $13.92. The company had a trading volume of 284,900 shares, compared to its average volume of 513,890. The firm's fifty day moving average is $15.28. Kardigan has a fifty-two week low of $12.23 and a fifty-two week high of $27.00. The stock has a market capitalization of $1.30 billion and a P/E ratio of -4.83.

Kardigan (NASDAQ:KARD - Get Free Report) last released its quarterly earnings data on Thursday, November 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.16. As a group, analysts expect that Kardigan will post -3.55 earnings per share for the current year.

Hedge Funds Weigh In On Kardigan

A number of large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new stake in shares of Kardigan in the 3rd quarter valued at approximately $31,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Kardigan during the third quarter worth about $47,000. Legal & General Group Plc acquired a new stake in shares of Kardigan in the second quarter valued at approximately $119,000. Squarepoint Ops LLC acquired a new stake in Kardigan in the 2nd quarter valued at $247,000. Finally, Alyeska Investment Group L.P. bought a new stake in Kardigan during the second quarter worth about $716,000.

Kardigan Company Profile

Kardigan is a biopharmaceutical company focused on developing medicines for cardiovascular diseases. Its work centers on advancing therapeutic candidates intended to address heart and vascular conditions. The company's activities include research and development of a pipeline of cardiovascular drug candidates. Kardigan was launched as a biotechnology company in 2024; detailed information about its commercial products and geographic operations is limited.

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