Kindred Biosciences (NASDAQ:KIN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
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 brokerages have also commented on KIN. Aegis restated a “buy” rating on shares of Kindred Biosciences in a research report on Friday, December 15th. HC Wainwright started coverage on shares of Kindred Biosciences in a research note on Friday, November 17th. They issued a “buy” rating and a $9.50 target price for the company. ValuEngine downgraded shares of Kindred Biosciences from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. B. Riley reaffirmed a “buy” rating and set a $11.00 price objective on shares of Kindred Biosciences in a research note on Monday, November 20th. Finally, CL King initiated coverage on Kindred Biosciences in a research note on Wednesday, December 27th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.63.
Shares of Kindred Biosciences (NASDAQ KIN) opened at $8.85 on Friday. The company has a market cap of $249.20, a price-to-earnings ratio of -7.56 and a beta of 0.18. Kindred Biosciences has a 1 year low of $5.00 and a 1 year high of $9.80.
Kindred Biosciences (NASDAQ:KIN) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.04. analysts forecast that Kindred Biosciences will post -1.19 EPS for the current year.
In other news, Director Raymond Townsend sold 6,419 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $9.45, for a total transaction of $60,659.55. Following the completion of the sale, the director now owns 18,419 shares in the company, valued at $174,059.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 19.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Pacific Grove Capital LP bought a new position in shares of Kindred Biosciences during the third quarter worth approximately $1,475,000. Granahan Investment Management Inc. MA grew its position in Kindred Biosciences by 35.8% during the third quarter. Granahan Investment Management Inc. MA now owns 86,358 shares of the biopharmaceutical company’s stock worth $678,000 after buying an additional 22,768 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Kindred Biosciences by 2.2% in the 3rd quarter. Wells Fargo & Company MN now owns 337,608 shares of the biopharmaceutical company’s stock valued at $2,650,000 after purchasing an additional 7,206 shares in the last quarter. Trexquant Investment LP boosted its holdings in shares of Kindred Biosciences by 88.6% in the 3rd quarter. Trexquant Investment LP now owns 26,228 shares of the biopharmaceutical company’s stock valued at $206,000 after purchasing an additional 12,325 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Kindred Biosciences in the 3rd quarter valued at $123,000. Institutional investors own 66.79% of the company’s stock.
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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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