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

Kardigan (NASDAQ:KARD) had its price target lowered by equities research analysts at Leerink Partners from $37.00 to $36.00 in a report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Leerink Partners‘s price target indicates a potential upside of 158.62% from the stock’s current price.

Several other equities research analysts have also commented on KARD. Wall Street Zen lowered Kardigan from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. JPMorgan Chase & Co. cut their price target on Kardigan from $51.00 to $46.00 and set an “overweight” rating for the company in a report on Tuesday, August 25th. HC Wainwright assumed coverage on shares of Kardigan in a research report on Wednesday, November 4th. They issued a “buy” rating and a $42.00 price objective for the company. Weiss Ratings cut Kardigan from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday. Finally, Cantor Fitzgerald initiated coverage on shares of Kardigan in a report on Thursday, October 29th. They issued an “overweight” rating and a $50.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Kardigan Price Performance

Shares of KARD stock traded down $0.20 on Friday, hitting $13.92. The company’s stock had a trading volume of 284,900 shares, compared to its average volume of 513,890. The business has a 50 day simple moving average of $15.28. Kardigan has a fifty-two week low of $12.23 and a fifty-two week high of $27.00. The company has a market cap of $1.30 billion and a P/E ratio of -4.83.

Kardigan (NASDAQ:KARD) last released its quarterly earnings results on Thursday, November 12th. The company reported ($0.64) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.16. On average, sell-side analysts anticipate that Kardigan will post -3.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KARD. Russell Investments Group Ltd. bought a new position in Kardigan in the third quarter worth about $31,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Kardigan during the third quarter valued at $47,000. Legal & General Group Plc purchased a new position in Kardigan in the second quarter worth about $119,000. Squarepoint Ops LLC purchased a new position in Kardigan in the 2nd quarter worth approximately $247,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Kardigan in the second quarter worth $716,000.

About Kardigan

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.