Kindred Biosciences (NASDAQ:KIN) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.
Several other research firms have also recently weighed in on KIN. Zacks Investment Research raised shares of Kindred Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday. ValuEngine cut shares of Kindred Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $16.00 target price (down from $17.50) on shares of Kindred Biosciences in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $13.94.
KIN opened at $7.37 on Tuesday. The stock has a market capitalization of $305.30 million, a price-to-earnings ratio of -4.61 and a beta of 0.45. The company has a fifty day moving average of $7.66 and a 200 day moving average of $7.76. Kindred Biosciences has a fifty-two week low of $5.96 and a fifty-two week high of $13.96. The company has a debt-to-equity ratio of 0.21, a quick ratio of 10.79 and a current ratio of 9.30.
Kindred Biosciences (NASDAQ:KIN) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.02). The company had revenue of $1.10 million for the quarter, compared to analysts’ expectations of $1.55 million. Kindred Biosciences had a negative net margin of 1,461.28% and a negative return on equity of 58.86%. On average, equities research analysts forecast that Kindred Biosciences will post -1.58 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH lifted its position in Kindred Biosciences by 27.8% during the second quarter. Allianz Asset Management GmbH now owns 433,131 shares of the biopharmaceutical company’s stock valued at $3,608,000 after purchasing an additional 94,091 shares during the last quarter. Vanguard Group Inc. lifted its position in Kindred Biosciences by 1.8% during the second quarter. Vanguard Group Inc. now owns 1,708,934 shares of the biopharmaceutical company’s stock valued at $14,236,000 after purchasing an additional 30,940 shares during the last quarter. PARK CIRCLE Co bought a new position in Kindred Biosciences during the second quarter valued at $27,000. General American Investors Co. Inc. lifted its position in Kindred Biosciences by 10.0% during the second quarter. General American Investors Co. Inc. now owns 494,327 shares of the biopharmaceutical company’s stock valued at $4,118,000 after purchasing an additional 44,753 shares during the last quarter. Finally, Aperio Group LLC bought a new position in Kindred Biosciences during the second quarter valued at $115,000. Institutional investors and hedge funds own 68.63% of the company’s stock.
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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