Kindred Biosciences (NASDAQ:KIN) Shares Up 13.7%

Shares of Kindred Biosciences Inc (NASDAQ:KIN) shot up 13.7% during mid-day trading on Friday . The stock traded as high as $8.06 and last traded at $8.03, 160,917 shares traded hands during trading. A decline of 20% from the average session volume of 201,406 shares. The stock had previously closed at $7.06.

Several research firms have issued reports on KIN. ValuEngine upgraded Kindred Biosciences from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Barclays began coverage on Kindred Biosciences in a report on Tuesday, June 11th. They set an “overweight” rating and a $13.00 price objective on the stock. BidaskClub upgraded Kindred Biosciences from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. HC Wainwright restated a “buy” rating and set a $19.00 price objective on shares of Kindred Biosciences in a report on Wednesday, July 31st. Finally, Guggenheim initiated coverage on Kindred Biosciences in a report on Thursday, May 23rd. They issued a “buy” rating and a $11.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $14.28.

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 market capitalization of $278.51 million, a P/E ratio of -5.02 and a beta of 0.47. The stock has a fifty day moving average price of $7.21 and a two-hundred day moving average price of $8.30.

Kindred Biosciences (NASDAQ:KIN) last issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the Zacks’ 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 during the quarter, compared to the consensus estimate of $1.97 million. As a group, research analysts anticipate that Kindred Biosciences Inc will post -1.52 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Granite Investment Partners LLC boosted its position in Kindred Biosciences by 219.8% during the 1st quarter. Granite Investment Partners LLC now owns 47,505 shares of the biopharmaceutical company’s stock valued at $436,000 after purchasing an additional 32,649 shares during the period. PARK CIRCLE Co acquired a new position in Kindred Biosciences during the 2nd quarter valued at approximately $27,000. General American Investors Co. Inc. boosted its position in Kindred Biosciences by 10.0% during the 2nd quarter. General American Investors Co. Inc. now owns 494,327 shares of the biopharmaceutical company’s stock valued at $4,118,000 after purchasing an additional 44,753 shares during the period. BNP Paribas Arbitrage SA boosted its position in Kindred Biosciences by 83,433.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,518 shares of the biopharmaceutical company’s stock valued at $69,000 after purchasing an additional 7,509 shares during the period. Finally, Rubric Capital Management LP acquired a new position in Kindred Biosciences during the 1st quarter valued at approximately $1,064,000. Institutional investors and hedge funds own 67.57% of the company’s stock.

Kindred Biosciences Company Profile (NASDAQ:KIN)

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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