Investment analysts at CL King assumed coverage on shares of Kindred Biosciences (NASDAQ:KIN) in a report issued on Wednesday, December 27th, MarketBeat Ratings reports. The brokerage set a “neutral” rating on the biopharmaceutical company’s stock.
Other research analysts have also issued reports about the company. Zacks Investment Research lowered Kindred Biosciences from a “buy” rating to a “hold” rating and set a $8.50 target price on the stock. in a research report on Tuesday, September 12th. HC Wainwright started coverage on Kindred Biosciences in a research report on Friday, November 17th. They set a “buy” rating and a $9.50 target price on the stock. B. Riley reaffirmed a “buy” rating and set a $11.00 target price on shares of Kindred Biosciences in a research report on Monday, November 20th. Aegis reissued a “buy” rating on shares of Kindred Biosciences in a report on Friday, December 15th. Finally, ValuEngine raised Kindred Biosciences from a “sell” rating to a “hold” rating in a report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Kindred Biosciences currently has a consensus rating of “Hold” and a consensus price target of $9.63.
Shares of Kindred Biosciences (NASDAQ:KIN) opened at $8.85 on Wednesday. Kindred Biosciences has a 1-year low of $5.00 and a 1-year high of $9.80. The firm has a market capitalization of $252.02, a price-to-earnings ratio of -7.56 and a beta of 0.18.
Kindred Biosciences (NASDAQ:KIN) last issued its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.04. analysts expect that Kindred Biosciences will post -1.19 EPS for the current year.
In other news, Director Raymond Townsend sold 6,419 shares of the company’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 sale, the director now owns 18,419 shares in the company, valued at $174,059.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 19.10% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of KIN. Goldman Sachs Group Inc. boosted its position in Kindred Biosciences by 28.5% during the first quarter. Goldman Sachs Group Inc. now owns 22,336 shares of the biopharmaceutical company’s stock worth $157,000 after purchasing an additional 4,954 shares in the last quarter. Schwab Charles Investment Management Inc. purchased a new position in Kindred Biosciences during the second quarter worth approximately $306,000. Rhumbline Advisers purchased a new position in Kindred Biosciences during the second quarter worth approximately $197,000. State of Wisconsin Investment Board purchased a new position in Kindred Biosciences during the second quarter worth approximately $129,000. Finally, Bank of New York Mellon Corp purchased a new position in Kindred Biosciences during the second quarter worth approximately $546,000. Hedge funds and other institutional investors own 66.79% of the company’s stock.
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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