Kindred Biosciences, Inc. (KIN) Coverage Initiated by Analysts at HC Wainwright
HC Wainwright assumed coverage on shares of Kindred Biosciences, Inc. (NASDAQ:KIN) in a report issued on Friday. The firm issued a buy rating and a $9.50 price objective on the biopharmaceutical company’s stock.
Separately, Zacks Investment Research upgraded Kindred Biosciences from a hold rating to a buy rating and set a $8.50 price target for the company in a report on Wednesday, September 6th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $9.25.
Shares of Kindred Biosciences (NASDAQ:KIN) remained flat at $$7.35 during trading on Friday. The company’s stock had a trading volume of 58,118 shares, compared to its average volume of 84,556. Kindred Biosciences has a one year low of $3.90 and a one year high of $9.65.
Kindred Biosciences (NASDAQ:KIN) last announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.04. equities analysts expect that Kindred Biosciences will post -1.14 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in KIN. Nationwide Fund Advisors bought a new stake in Kindred Biosciences during the second quarter worth $100,000. JPMorgan Chase & Co. purchased a new position in Kindred Biosciences in the second quarter worth $119,000. Trexquant Investment LP purchased a new position in Kindred Biosciences in the second quarter worth $120,000. SG Americas Securities LLC purchased a new position in Kindred Biosciences in the third quarter worth $123,000. Finally, OxFORD Asset Management LLP purchased a new position in Kindred Biosciences in the second quarter worth $128,000. Institutional investors and hedge funds own 62.36% 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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