Kindred Biosciences (KIN) Coverage Initiated by Analysts at Guggenheim

Guggenheim began coverage on shares of Kindred Biosciences (NASDAQ:KIN) in a report released on Thursday, Briefing.com Automated Import reports. The brokerage issued a buy rating and a $11.00 price objective on the biopharmaceutical company’s stock.

KIN has been the subject of a number of other reports. Lake Street Capital decreased their price objective on Kindred Biosciences from $30.00 to $12.00 and set a buy rating for the company in a research note on Thursday, March 7th. Cantor Fitzgerald set a $25.00 target price on Kindred Biosciences and gave the company a buy rating in a research note on Friday, April 26th. Zacks Investment Research cut Kindred Biosciences from a hold rating to a sell rating in a research note on Thursday, February 28th. HC Wainwright reissued a buy rating and issued a $19.00 target price on shares of Kindred Biosciences in a research note on Thursday, March 7th. Finally, ValuEngine cut Kindred Biosciences from a strong-buy rating to a buy rating in a research note on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. Kindred Biosciences currently has a consensus rating of Buy and an average price target of $16.00.

Shares of Kindred Biosciences stock opened at $8.50 on Thursday. The company has a quick ratio of 8.70, a current ratio of 9.10 and a debt-to-equity ratio of 0.01. Kindred Biosciences has a 12 month low of $8.04 and a 12 month high of $15.75. The firm has a market cap of $331.54 million, a P/E ratio of -5.31 and a beta of 0.37.

Kindred Biosciences (NASDAQ:KIN) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01). The company had revenue of $0.52 million during the quarter, compared to analyst estimates of $1.95 million. As a group, equities research analysts anticipate that Kindred Biosciences will post -1.45 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. Meeder Asset Management Inc. grew its stake in Kindred Biosciences by 17.5% in the fourth quarter. Meeder Asset Management Inc. now owns 10,216 shares of the biopharmaceutical company’s stock valued at $111,000 after acquiring an additional 1,518 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Kindred Biosciences by 24.4% in the third quarter. Bank of New York Mellon Corp now owns 90,847 shares of the biopharmaceutical company’s stock valued at $1,267,000 after purchasing an additional 17,798 shares in the last quarter. Strs Ohio lifted its holdings in shares of Kindred Biosciences by 36.1% in the fourth quarter. Strs Ohio now owns 39,500 shares of the biopharmaceutical company’s stock valued at $432,000 after purchasing an additional 10,483 shares in the last quarter. Teachers Advisors LLC lifted its holdings in shares of Kindred Biosciences by 28.6% in the third quarter. Teachers Advisors LLC now owns 57,607 shares of the biopharmaceutical company’s stock valued at $804,000 after purchasing an additional 12,810 shares in the last quarter. Finally, MetLife Investment Advisors LLC lifted its holdings in shares of Kindred Biosciences by 55.2% in the third quarter. MetLife Investment Advisors LLC now owns 21,274 shares of the biopharmaceutical company’s stock valued at $297,000 after purchasing an additional 7,563 shares in the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

Kindred Biosciences Company Profile

Kindred Biosciences, Inc, a commercial-stage biopharmaceutical company, focusing on developing therapies for pets. Its product pipeline consists of small molecules and biologics for a range of indications in dogs, cats, and horses. The company offers Mirataz, a mirtazapine transdermal ointment for the management of weight loss in cats.

Featured Article: What is required to own or exchange cryptocurrency?

Analyst Recommendations for Kindred Biosciences (NASDAQ:KIN)

Receive News & Ratings for Kindred Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kindred Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.