Canaccord Genuity Reiterates Buy Rating for KemPharm, Inc. (KMPH)

KemPharm, Inc. (NASDAQ:KMPH)‘s stock had its “buy” rating restated by equities researchers at Canaccord Genuity in a note issued to investors on Monday. They currently have a $7.00 price target on the specialty pharmaceutical company’s stock. Canaccord Genuity’s target price would indicate a potential upside of 122.22% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Roth Capital initiated coverage on shares of KemPharm in a research report on Wednesday, June 28th. They set a “buy” rating and a $8.00 price objective for the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $8.00 price objective on shares of KemPharm in a research report on Monday, May 15th. Oppenheimer Holdings, Inc. set a $13.00 price objective on shares of KemPharm and gave the company a “buy” rating in a research report on Thursday, August 10th. Zacks Investment Research raised shares of KemPharm from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, ValuEngine raised shares of KemPharm from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $8.10.

KemPharm (NASDAQ:KMPH) opened at 3.15 on Monday. The firm’s 50 day moving average price is $3.07 and its 200 day moving average price is $3.82. KemPharm has a one year low of $2.45 and a one year high of $5.40. The stock’s market cap is $46.17 million.

KemPharm (NASDAQ:KMPH) last issued its earnings results on Thursday, August 10th. The specialty pharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.19. Equities analysts forecast that KemPharm will post ($2.72) earnings per share for the current year.

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In other news, CEO Travis C. Mickle bought 8,000 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was purchased at an average price of $3.45 per share, for a total transaction of $27,600.00. Following the transaction, the chief executive officer now owns 1,629,612 shares in the company, valued at $5,622,161.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders acquired 17,275 shares of company stock valued at $51,808. 22.80% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in KemPharm by 17.6% in the 1st quarter. Bank of New York Mellon Corp now owns 22,854 shares of the specialty pharmaceutical company’s stock worth $112,000 after purchasing an additional 3,414 shares during the last quarter. Victory Capital Management Inc. bought a new position in KemPharm in the 1st quarter worth about $647,000. Finally, C WorldWide Group Holding A S grew its position in KemPharm by 110.1% in the 2nd quarter. C WorldWide Group Holding A S now owns 381,699 shares of the specialty pharmaceutical company’s stock worth $1,527,000 after purchasing an additional 200,000 shares during the last quarter. Hedge funds and other institutional investors own 40.01% of the company’s stock.

KemPharm Company Profile

KemPharm, Inc is a clinical-stage specialty pharmaceutical company. The Company is engaged in the discovery and development of prodrugs. The Company uses its Ligand Activated Therapy (LAT) platform technology to create prodrugs. The Company’s product candidate, KP201/APAP, consists of KP201, its prodrug of hydrocodone, which is combined with acetaminophen (APAP).

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