Zacks Investment Research lowered shares of Kindred Biosciences (NASDAQ:KIN) from a hold rating to a sell rating in a report published on Wednesday, 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. “

A number of other equities research analysts have also recently commented on KIN. Stifel Nicolaus initiated coverage on Kindred Biosciences in a research report on Wednesday, May 22nd. They set a buy rating and a $14.00 target price on the stock. HC Wainwright restated a buy rating and set a $19.00 target price on shares of Kindred Biosciences in a research report on Wednesday, July 31st. B. Riley cut Kindred Biosciences from a buy rating to a neutral rating and dropped their target price for the company from $18.00 to $8.50 in a research report on Tuesday, July 16th. Barclays initiated coverage on Kindred Biosciences in a research report on Tuesday, June 11th. They set an overweight rating and a $13.00 target price on the stock. Finally, BidaskClub upgraded Kindred Biosciences from a sell rating to a hold rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. Kindred Biosciences presently has a consensus rating of Buy and a consensus price target of $14.28.

Shares of KIN opened at $7.59 on Wednesday. The business’s 50-day moving average is $7.39 and its two-hundred day moving average is $8.21. The company has a quick ratio of 10.79, a current ratio of 11.36 and a debt-to-equity ratio of 0.01. Kindred Biosciences has a fifty-two week low of $5.96 and a fifty-two week high of $15.11.

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

Hedge funds have recently bought and sold shares of the stock. Granite Investment Partners LLC boosted its holdings in Kindred Biosciences by 219.8% in the 1st quarter. Granite Investment Partners LLC now owns 47,505 shares of the biopharmaceutical company’s stock worth $436,000 after buying an additional 32,649 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Kindred Biosciences by 27.8% in the 2nd quarter. Allianz Asset Management GmbH now owns 433,131 shares of the biopharmaceutical company’s stock worth $3,608,000 after buying an additional 94,091 shares during the last quarter. PARK CIRCLE Co purchased a new position in Kindred Biosciences in the 2nd quarter worth approximately $27,000. General American Investors Co. Inc. lifted its stake in Kindred Biosciences by 10.0% in the 2nd quarter. General American Investors Co. Inc. now owns 494,327 shares of the biopharmaceutical company’s stock worth $4,118,000 after purchasing an additional 44,753 shares in the last quarter. Finally, Aperio Group LLC purchased a new position in Kindred Biosciences in the 2nd quarter worth approximately $115,000. Institutional investors own 67.57% of the company’s stock.

Kindred Biosciences Company Profile

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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