Kindred Biosciences (NASDAQ:KIN) has been assigned a $19.00 target price by research analysts at HC Wainwright in a research report issued on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 41.79% from the stock’s previous close.
A number of other research analysts also recently commented on the stock. B. Riley increased their target price on shares of Kindred Biosciences from $12.50 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, August 7th. BidaskClub downgraded shares of Kindred Biosciences from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Zacks Investment Research downgraded shares of Kindred Biosciences from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $20.00 target price on shares of Kindred Biosciences in a research report on Thursday, August 9th. Finally, Lake Street Capital started coverage on shares of Kindred Biosciences in a research report on Monday, July 23rd. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $19.35.
Shares of NASDAQ KIN traded down $0.64 during mid-day trading on Thursday, reaching $13.40. The company had a trading volume of 135,164 shares, compared to its average volume of 257,542. The company has a market capitalization of $493.14 million, a price-to-earnings ratio of -10.89 and a beta of 0.25. Kindred Biosciences has a 52-week low of $6.95 and a 52-week high of $15.75.
Kindred Biosciences (NASDAQ:KIN) last posted its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.39) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.01. The company had revenue of $0.64 million during the quarter. As a group, equities analysts expect that Kindred Biosciences will post -1.51 earnings per share for the current year.
In other Kindred Biosciences news, CEO Richard Chin sold 40,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $14.68, for a total transaction of $587,200.00. Following the transaction, the chief executive officer now directly owns 1,986,071 shares of the company’s stock, valued at approximately $29,155,522.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond Townsend sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $13.32, for a total transaction of $39,960.00. Following the transaction, the director now directly owns 27,813 shares in the company, valued at $370,469.16. The disclosure for this sale can be found here. Insiders have sold a total of 123,000 shares of company stock worth $1,749,960 over the last three months. 15.96% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of KIN. MetLife Investment Advisors LLC acquired a new stake in shares of Kindred Biosciences in the 2nd quarter worth $146,000. BlackRock Inc. lifted its stake in shares of Kindred Biosciences by 20.1% in the 2nd quarter. BlackRock Inc. now owns 1,325,147 shares of the biopharmaceutical company’s stock worth $14,114,000 after acquiring an additional 221,578 shares during the period. Granahan Investment Management Inc. MA lifted its stake in shares of Kindred Biosciences by 92.9% in the 2nd quarter. Granahan Investment Management Inc. MA now owns 318,741 shares of the biopharmaceutical company’s stock worth $3,395,000 after acquiring an additional 153,479 shares during the period. Paloma Partners Management Co acquired a new stake in shares of Kindred Biosciences in the 2nd quarter worth $119,000. Finally, Sit Investment Associates Inc. acquired a new stake in shares of Kindred Biosciences in the 2nd quarter worth $752,000. 62.23% of the stock is currently owned by institutional investors.
Kindred Biosciences Company Profile
Kindred Biosciences, Inc, a biopharmaceutical company, focuses on the development of therapies for pets. The company's product pipeline includes small molecules and biologics for a range of indications in dogs, cats, and horses. Its lead product candidates comprise Zimeta, a dipyrone injection for the control of pyrexia (fever) in horses; and Mirataz, a mirtazapine transdermal ointment for the management of weight loss in cats.
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