Kindred Biosciences (NASDAQ:KIN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Saturday.

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 research firms have also recently issued reports on KIN. CL King assumed coverage on shares of Kindred Biosciences in a research report on Wednesday, December 27th. They set a “neutral” rating for the company. ValuEngine cut shares of Kindred Biosciences from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. BMO Capital Markets reiterated a “hold” rating on shares of Kindred Biosciences in a research report on Friday, December 22nd. Aegis reiterated a “buy” rating on shares of Kindred Biosciences in a research report on Friday, December 15th. Finally, HC Wainwright set a $10.00 price target on shares of Kindred Biosciences and gave the company a “buy” rating in a research report on Tuesday, December 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Kindred Biosciences currently has an average rating of “Hold” and a consensus target price of $9.63.

Kindred Biosciences (KIN) opened at $8.85 on Friday. The stock has a market cap of $249.15, a P/E ratio of -7.56 and a beta of 0.18. Kindred Biosciences has a 12-month low of $5.00 and a 12-month high of $9.80.

Kindred Biosciences (NASDAQ:KIN) last released its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.04. equities research analysts expect that Kindred Biosciences will post -1.19 EPS for the current year.

In other Kindred Biosciences news, Director Raymond Townsend sold 6,419 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $9.45, for a total value of $60,659.55. Following the completion of the transaction, the director now directly owns 18,419 shares in the company, valued at approximately $174,059.55. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 19.10% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nationwide Fund Advisors acquired a new position in Kindred Biosciences in the 2nd quarter valued at approximately $100,000. JPMorgan Chase & Co. acquired a new stake in shares of Kindred Biosciences during the second quarter worth $119,000. OxFORD Asset Management LLP acquired a new stake in shares of Kindred Biosciences during the second quarter worth $128,000. State of Wisconsin Investment Board acquired a new stake in shares of Kindred Biosciences during the second quarter worth $129,000. Finally, Virtu KCG Holdings LLC increased its position in shares of Kindred Biosciences by 41.7% during the second quarter. Virtu KCG Holdings LLC now owns 15,285 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 4,495 shares during the period. Hedge funds and other institutional investors own 66.79% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Zacks Investment Research Upgrades Kindred Biosciences (KIN) to Hold” was originally posted by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another website, it was stolen and reposted in violation of United States & international copyright & trademark legislation. The correct version of this story can be read at https://www.watchlistnews.com/zacks-investment-research-upgrades-kindred-biosciences-kin-to-hold/1805140.html.

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.

Get a free copy of the Zacks research report on Kindred Biosciences (KIN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Kindred Biosciences (NASDAQ:KIN)

Receive News & Ratings for Kindred Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kindred Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.