Kindred Biosciences (NASDAQ:KIN) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Saturday.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Kindred Biosciences from a “hold” rating to a “sell” rating in a report on Friday, January 4th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $25.00 target price (up from $20.00) on shares of Kindred Biosciences in a research report on Wednesday, October 31st. HC Wainwright set a $19.00 price objective on shares of Kindred Biosciences and gave the company a “buy” rating in a research report on Thursday, November 8th. Finally, B. Riley raised their price target on shares of Kindred Biosciences from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, November 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $19.35.
Shares of KIN stock opened at $11.52 on Friday. The stock has a market capitalization of $387.97 million, a price-to-earnings ratio of -9.37 and a beta of 0.54. Kindred Biosciences has a 52 week low of $7.55 and a 52 week high of $15.75.
Kindred Biosciences (NASDAQ:KIN) last issued its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.01. The firm had revenue of $0.64 million for the quarter. On average, equities analysts forecast that Kindred Biosciences will post -1.59 EPS for the current year.
In related news, CEO Richard Chin sold 40,000 shares of Kindred Biosciences stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $13.28, for a total value of $531,200.00. Following the completion of the sale, the chief executive officer now directly owns 1,946,071 shares in the company, valued at $25,843,822.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 120,000 shares of company stock valued at $1,541,200 over the last 90 days. 15.96% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Legal & General Group Plc raised its holdings in Kindred Biosciences by 24.6% in the third quarter. Legal & General Group Plc now owns 4,659 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 920 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new position in Kindred Biosciences in the second quarter worth about $103,000. Tower Research Capital LLC TRC raised its holdings in Kindred Biosciences by 764.3% in the second quarter. Tower Research Capital LLC TRC now owns 9,671 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 8,552 shares in the last quarter. Paloma Partners Management Co bought a new position in Kindred Biosciences in the second quarter worth about $119,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Kindred Biosciences by 90.1% during the third quarter. Meeder Asset Management Inc. now owns 8,698 shares of the biopharmaceutical company’s stock worth $122,000 after acquiring an additional 4,122 shares during the last quarter. Institutional investors and hedge funds own 66.43% of the company’s stock.
Kindred Biosciences Company Profile
Kindred Biosciences, Inc, a biopharmaceutical company, focuses on the development of therapies for pets. The company's product pipeline includes small molecules and biologics for a range of indications in dogs, cats, and horses. Its lead product candidates comprise Zimeta, a dipyrone injection for the control of pyrexia (fever) in horses; and Mirataz, a mirtazapine transdermal ointment for the management of weight loss in cats.
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