Kindred Biosciences (NASDAQ:KIN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, March 7th.
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. “
Other equities research analysts also recently issued research reports about the company. B. Riley set a $11.00 price target on Kindred Biosciences and gave the company a “buy” rating in a research report on Tuesday, December 5th. CL King initiated coverage on Kindred Biosciences in a research report on Wednesday, December 27th. They set a “neutral” rating for the company. ValuEngine downgraded Kindred Biosciences from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. BMO Capital Markets reaffirmed a “hold” rating on shares of Kindred Biosciences in a research report on Friday, December 22nd. Finally, BidaskClub raised Kindred Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, March 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $9.79.
Kindred Biosciences (KIN) opened at $9.05 on Wednesday. Kindred Biosciences has a 1-year low of $6.50 and a 1-year high of $9.80.
Kindred Biosciences (NASDAQ:KIN) last announced its quarterly earnings data on Thursday, March 1st. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.02). equities analysts anticipate that Kindred Biosciences will post -1.5 EPS for the current fiscal year.
In related news, Director Raymond Townsend sold 6,419 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $9.45, for a total value of $60,659.55. Following the transaction, the director now owns 18,419 shares in the company, valued at $174,059.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 19.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in KIN. BlackRock Inc. grew its holdings in shares of Kindred Biosciences by 4.0% during the fourth quarter. BlackRock Inc. now owns 1,115,709 shares of the biopharmaceutical company’s stock valued at $10,544,000 after purchasing an additional 42,777 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Kindred Biosciences by 12.1% in the 4th quarter. Bank of New York Mellon Corp now owns 83,543 shares of the biopharmaceutical company’s stock worth $789,000 after buying an additional 8,995 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Kindred Biosciences by 8.6% in the 4th quarter. Wells Fargo & Company MN now owns 366,735 shares of the biopharmaceutical company’s stock worth $3,465,000 after buying an additional 29,127 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Kindred Biosciences by 18.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 42,100 shares of the biopharmaceutical company’s stock worth $398,000 after buying an additional 6,600 shares in the last quarter. Finally, Pacific Grove Capital LP bought a new position in Kindred Biosciences in the 3rd quarter worth approximately $1,475,000. Hedge funds and other institutional investors own 64.36% of the company’s stock.
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About Kindred Biosciences
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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