TD Cowen Upgrades Kardigan (NASDAQ:KARD) to Strong-Buy

Kardigan (NASDAQ:KARD) was upgraded by TD Cowen to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently commented on KARD. Jefferies Financial Group initiated coverage on Kardigan in a research note on Monday. They issued a “buy” rating and a $40.00 target price for the company. JPMorgan Chase & Co. initiated coverage on Kardigan in a research note on Monday. They set an “overweight” rating and a $51.00 price target on the stock. Wall Street Zen upgraded Kardigan to a “hold” rating in a report on Saturday, June 27th. Finally, Leerink Partners started coverage on Kardigan in a research report on Monday. They issued an “outperform” rating and a $37.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and a consensus target price of $43.50.

Kardigan Stock Performance

NASDAQ:KARD opened at $23.53 on Monday. Kardigan has a 52-week low of $16.25 and a 52-week high of $27.00.

Insider Activity

In related news, Director Paul L. Berns bought 1,250,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average cost of $16.00 per share, for a total transaction of $20,000,000.00. Following the transaction, the director owned 15,042,035 shares of the company’s stock, valued at $240,672,560. This represents a 9.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arch Venture Partners Xiii, Ll bought 1,250,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were bought at an average price of $16.00 per share, with a total value of $20,000,000.00. Following the completion of the transaction, the director directly owned 15,042,035 shares in the company, valued at approximately $240,672,560. This trade represents a 9.06% increase in their position. The disclosure for this purchase is available in the SEC filing.