Zacks Investment Research lowered shares of Kindred Biosciences (NASDAQ:KIN) from a hold rating to a sell rating in a research report released on Wednesday.
According to Zacks, “Kindred Biosciences is a development-stage biopharmaceutical company focused on saving and improving the lives of pets. Its mission is to bring to pets the same kinds of safe and effective medicines that human family members enjoy. The Company’s strategy is to identify compounds and targets that have already demonstrated safety and efficacy in humans and to develop therapeutics based on these validated compounds and targets for dogs, cats and horses. The Company has a deep pipeline of novel drugs and biologics in development across many therapeutic classes. “
Several other research analysts have also issued reports on the stock. ValuEngine lowered shares of Kindred Biosciences from a hold rating to a sell rating in a research report on Wednesday. CL King assumed coverage on shares of Kindred Biosciences in a research report on Wednesday, December 27th. They issued a neutral rating for the company. HC Wainwright assumed coverage on shares of Kindred Biosciences in a research report on Friday, November 17th. They issued a buy rating and a $9.50 price target for the company. Aegis reissued a buy rating on shares of Kindred Biosciences in a research report on Friday, December 15th. Finally, B. Riley reissued a buy rating and issued a $11.00 price target on shares of Kindred Biosciences in a research report on Monday, November 20th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Kindred Biosciences currently has a consensus rating of Hold and a consensus target price of $9.63.
Shares of Kindred Biosciences (NASDAQ KIN) remained flat at $$9.15 on Wednesday. 41,900 shares of the stock traded hands, compared to its average volume of 71,700. The firm has a market cap of $256.11, a price-to-earnings ratio of -7.82 and a beta of 0.18. Kindred Biosciences has a 12 month low of $5.00 and a 12 month high of $9.80.
Kindred Biosciences (NASDAQ:KIN) last announced its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.04. equities research analysts forecast that Kindred Biosciences will post -1.19 EPS for the current fiscal year.
In related news, Director Raymond Townsend sold 6,419 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $9.45, for a total value of $60,659.55. Following the completion of the transaction, the director now owns 18,419 shares of the company’s stock, valued at $174,059.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 19.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of KIN. Nationwide Fund Advisors acquired a new stake in shares of Kindred Biosciences during the second quarter worth approximately $100,000. JPMorgan Chase & Co. acquired a new stake in shares of Kindred Biosciences during the second quarter worth approximately $119,000. SG Americas Securities LLC acquired a new stake in shares of Kindred Biosciences during the third quarter worth approximately $123,000. OxFORD Asset Management LLP acquired a new stake in shares of Kindred Biosciences during the second quarter worth approximately $128,000. Finally, State of Wisconsin Investment Board acquired a new stake in shares of Kindred Biosciences during the second quarter worth approximately $129,000. 66.79% of the stock is owned by institutional investors.
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Kindred Biosciences Company Profile
Kindred Biosciences, Inc is a development-stage biopharmaceutical company. The Company is focused on developing therapies for pets. The Company’s product pipeline consists of small molecules and biologics for a range of indications in dogs, cats and horses. The Company is developing product candidates for over 20 indications and focused on small molecule products and canine and feline biologics products.
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