Kindred Biosciences (NASDAQ:KIN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a 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 analysts have also recently issued research reports about the company. B. Riley reaffirmed a “buy” rating and issued a $11.00 price target on shares of Kindred Biosciences in a report on Monday, November 20th. HC Wainwright started coverage on Kindred Biosciences in a report on Friday, November 17th. They set a “buy” rating and a $9.50 price objective on the stock. Aegis reissued a “buy” rating on shares of Kindred Biosciences in a report on Friday, December 15th. BidaskClub raised Kindred Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, March 3rd. Finally, ValuEngine raised Kindred Biosciences from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.79.
Kindred Biosciences stock traded up $0.10 during trading hours on Wednesday, hitting $8.85. The company’s stock had a trading volume of 69,501 shares, compared to its average volume of 77,425. Kindred Biosciences has a 1 year low of $6.50 and a 1 year high of $9.80. The stock has a market cap of $248.06, a PE ratio of -7.20 and a beta of 0.05.
Kindred Biosciences (NASDAQ:KIN) last released its quarterly earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.02). equities analysts forecast that Kindred Biosciences will post -1.5 earnings per share for the current year.
In related news, Director Raymond Townsend sold 2,670 shares of the firm’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $9.45, for a total transaction of $25,231.50. Following the transaction, the director now directly owns 25,057 shares of the company’s stock, valued at approximately $236,788.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 9,180 shares of company stock worth $86,751. 19.10% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Granahan Investment Management Inc. MA grew its position in shares of Kindred Biosciences by 35.8% in the 3rd 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 during the last quarter. Northern Trust Corp grew its position in shares of Kindred Biosciences by 648.4% in the 2nd quarter. Northern Trust Corp now owns 213,267 shares of the biopharmaceutical company’s stock worth $1,834,000 after buying an additional 184,770 shares during the last quarter. Pacific Grove Capital LP bought a new stake in shares of Kindred Biosciences in the 3rd quarter worth approximately $1,475,000. TIAA CREF Investment Management LLC bought a new stake in shares of Kindred Biosciences in the 2nd quarter worth approximately $547,000. Finally, New York State Common Retirement Fund grew its position in shares of Kindred Biosciences by 19.1% in the 3rd quarter. New York State Common Retirement Fund now owns 265,543 shares of the biopharmaceutical company’s stock worth $2,085,000 after buying an additional 42,500 shares during the last quarter. Institutional investors and hedge funds own 64.36% of the company’s stock.
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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