Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Kindred Biosciences (KIN) Share Price
News articles about Kindred Biosciences (NASDAQ:KIN) have trended somewhat positive on Wednesday, according to Accern Sentiment Analysis. The research firm identifies positive and negative press coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Kindred Biosciences earned a news impact score of 0.18 on Accern’s scale. Accern also gave press coverage about the biopharmaceutical company an impact score of 45.4599804444045 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
A number of equities analysts have weighed in on KIN shares. EuroPacific Canada started coverage on shares of Kindred Biosciences in a report on Wednesday, May 23rd. They issued a “buy” rating and a $16.75 price target on the stock. BidaskClub upgraded shares of Kindred Biosciences from a “hold” rating to a “buy” rating in a report on Saturday, April 14th. ValuEngine upgraded shares of Kindred Biosciences from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 5th. Zacks Investment Research upgraded shares of Kindred Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, May 5th. Finally, CL King upgraded shares of Kindred Biosciences from a “neutral” rating to a “buy” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $12.00.
Shares of Kindred Biosciences traded up $0.10, hitting $11.80, during midday trading on Wednesday, Marketbeat Ratings reports. 5,331 shares of the company’s stock traded hands, compared to its average volume of 299,725. The firm has a market capitalization of $335.62 million, a price-to-earnings ratio of -9.59 and a beta of 0.11. Kindred Biosciences has a twelve month low of $6.55 and a twelve month high of $12.15.
In other news, major shareholder Park West Asset Management Llc purchased 845,262 shares of the company’s stock in a transaction that occurred on Wednesday, June 20th. The shares were purchased at an average price of $9.50 per share, with a total value of $8,029,989.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Richard Chin sold 40,000 shares of Kindred Biosciences stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $10.28, for a total transaction of $411,200.00. Following the sale, the insider now directly owns 2,146,071 shares in the company, valued at approximately $22,061,609.88. The disclosure for this sale can be found here. Insiders have sold a total of 121,730 shares of company stock worth $1,214,737 in the last 90 days. Company insiders own 15.96% of the company’s stock.
Kindred Biosciences Company Profile
Kindred Biosciences, Inc, a biopharmaceutical company, focuses on the development of therapies for pets. The company's product pipeline includes small molecules and biologics for a range of indications in dogs, cats, and horses. Its lead product candidates comprise Zimeta, a dipyrone injection for the control of pyrexia (fever) in horses; and Mirataz, a mirtazapine transdermal ointment for the management of weight loss in cats.
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