Kindred Biosciences (NASDAQ:KIN) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Kindred Biosciences (NASDAQ:KIN) from a hold rating to a sell rating in a research note published on Thursday morning, Zacks.com reports.

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 research analysts have also issued research reports about the company. Stifel Nicolaus assumed coverage on Kindred Biosciences in a research report on Wednesday, May 22nd. They set a buy rating and a $14.00 price target for the company. Guggenheim initiated coverage on Kindred Biosciences in a research note on Thursday, May 23rd. They issued a buy rating and a $11.00 price objective on the stock. B. Riley downgraded Kindred Biosciences from a buy rating to a neutral rating and dropped their price objective for the stock from $18.00 to $8.50 in a research note on Tuesday, July 16th. HC Wainwright reissued a buy rating and issued a $19.00 price objective on shares of Kindred Biosciences in a research note on Wednesday, July 31st. Finally, ValuEngine raised Kindred Biosciences from a hold rating to a buy rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. Kindred Biosciences presently has an average rating of Buy and an average price target of $14.28.

NASDAQ:KIN traded up $0.66 during midday trading on Thursday, reaching $7.72. 8,348 shares of the company traded hands, compared to its average volume of 114,738. Kindred Biosciences has a twelve month low of $5.96 and a twelve month high of $15.11. The firm has a market capitalization of $278.51 million, a price-to-earnings ratio of -4.83 and a beta of 0.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.36 and a quick ratio of 10.79. The company has a fifty day moving average price of $7.18 and a 200 day moving average price of $8.31.

Kindred Biosciences (NASDAQ:KIN) last announced its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.01). Kindred Biosciences had a negative return on equity of 55.46% and a negative net margin of 1,583.00%. The business had revenue of $1.24 million for the quarter, compared to analyst estimates of $1.97 million. On average, equities research analysts forecast that Kindred Biosciences will post -1.52 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. PARK CIRCLE Co acquired a new stake in shares of Kindred Biosciences during the second quarter worth $27,000. Bank of Montreal Can raised its position in shares of Kindred Biosciences by 2,368.3% during the second quarter. Bank of Montreal Can now owns 3,505 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 3,363 shares during the period. Marshall Wace LLP acquired a new stake in shares of Kindred Biosciences during the first quarter worth $53,000. BNP Paribas Arbitrage SA raised its position in shares of Kindred Biosciences by 83,433.3% during the first quarter. BNP Paribas Arbitrage SA now owns 7,518 shares of the biopharmaceutical company’s stock worth $69,000 after purchasing an additional 7,509 shares during the period. Finally, Gabelli Funds LLC acquired a new stake in shares of Kindred Biosciences during the second quarter worth $108,000. 67.57% of the stock is currently owned by institutional investors.

About Kindred Biosciences

Kindred Biosciences, Inc, a commercial-stage biopharmaceutical company, focusing on developing therapies for pets. Its product pipeline consists of small molecules and biologics for a range of indications in dogs, cats, and horses. The company offers Mirataz, a mirtazapine transdermal ointment for the management of weight loss in cats.

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