Kindred Biosciences (NASDAQ:KIN) Raised to Strong-Buy at ValuEngine

ValuEngine upgraded shares of Kindred Biosciences (NASDAQ:KIN) from a buy rating to a strong-buy rating in a research note released on Saturday morning, ValuEngine reports.

KIN has been the subject of several other research reports. Zacks Investment Research downgraded shares of Kindred Biosciences from a hold rating to a sell rating in a report on Thursday, September 12th. Barclays initiated coverage on shares of Kindred Biosciences in a report on Tuesday, June 11th. They issued an overweight rating and a $13.00 price objective for the company. B. Riley downgraded shares of Kindred Biosciences from a buy rating to a neutral rating and reduced their price objective for the stock from $18.00 to $8.50 in a report on Tuesday, July 16th. BidaskClub raised shares of Kindred Biosciences from a sell rating to a hold rating in a report on Wednesday, August 7th. Finally, Guggenheim initiated coverage on shares of Kindred Biosciences in a report on Thursday, May 23rd. They issued a buy rating and a $11.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $14.28.

Shares of KIN opened at $8.10 on Friday. Kindred Biosciences has a 1 year low of $5.96 and a 1 year high of $15.11. The company has a market cap of $332.39 million, a price-to-earnings ratio of -5.06 and a beta of 0.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.79 and a current ratio of 11.36. The firm has a fifty day moving average of $7.34 and a 200-day moving average of $8.25.

Kindred Biosciences (NASDAQ:KIN) last announced its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.01). Kindred Biosciences had a negative net margin of 1,583.00% and a negative return on equity of 55.46%. The firm had revenue of $1.24 million for the quarter, compared to analyst estimates of $1.97 million. Analysts predict that Kindred Biosciences will post -1.52 EPS for the current year.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its position in Kindred Biosciences by 21.6% in the second quarter. BlackRock Inc. now owns 2,393,085 shares of the biopharmaceutical company’s stock worth $19,934,000 after acquiring an additional 425,237 shares in the last quarter. Morgan Stanley raised its position in Kindred Biosciences by 67.4% in the second quarter. Morgan Stanley now owns 1,901,961 shares of the biopharmaceutical company’s stock worth $15,843,000 after acquiring an additional 765,748 shares in the last quarter. Vanguard Group Inc. raised its position in Kindred Biosciences by 1.8% in the second quarter. Vanguard Group Inc. now owns 1,708,934 shares of the biopharmaceutical company’s stock worth $14,236,000 after acquiring an additional 30,940 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Kindred Biosciences by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,382,645 shares of the biopharmaceutical company’s stock worth $15,140,000 after acquiring an additional 32,834 shares in the last quarter. Finally, General American Investors Co. Inc. raised its position in Kindred Biosciences by 10.0% in the second quarter. General American Investors Co. Inc. now owns 494,327 shares of the biopharmaceutical company’s stock worth $4,118,000 after acquiring an additional 44,753 shares in the last quarter. Hedge funds and other institutional investors own 67.57% of the company’s stock.

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.

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Analyst Recommendations for Kindred Biosciences (NASDAQ:KIN)

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