Kindred Biosciences, Inc. (KIN) Receives Consensus Rating of “Buy” from Analysts
Shares of Kindred Biosciences, Inc. (NASDAQ:KIN) have earned an average rating of “Buy” from the seven research firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $8.56.
A number of equities research analysts recently issued reports on KIN shares. Zacks Investment Research raised Kindred Biosciences from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a research report on Wednesday, September 27th. Aegis assumed coverage on Kindred Biosciences in a research report on Friday, June 16th. They set a “buy” rating and a $10.50 price target for the company.
In related news, major shareholder Park West Asset Management Llc acquired 600,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was bought at an average price of $7.50 per share, for a total transaction of $4,500,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 19.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Nationwide Fund Advisors bought a new position in shares of Kindred Biosciences in the second quarter valued at $100,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Kindred Biosciences during the first quarter worth $102,000. JPMorgan Chase & Co. acquired a new position in Kindred Biosciences during the second quarter worth $119,000. Trexquant Investment LP bought a new stake in Kindred Biosciences during the second quarter worth $120,000. Finally, OxFORD Asset Management LLP bought a new stake in Kindred Biosciences during the second quarter worth $128,000. Institutional investors own 60.37% of the company’s stock.
Shares of Kindred Biosciences (NASDAQ KIN) traded up 1.27% during trading on Wednesday, reaching $7.95. 91,213 shares of the company traded hands. Kindred Biosciences has a 12 month low of $3.90 and a 12 month high of $9.65. The stock’s market cap is $221.30 million. The stock’s 50 day moving average price is $7.28 and its 200-day moving average price is $7.24.
Kindred Biosciences (NASDAQ:KIN) last posted its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.04. On average, equities research analysts expect that Kindred Biosciences will post ($1.27) EPS for the current fiscal year.
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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