Kindred Biosciences, Inc. (NASDAQ:KIN) Expected to Post Earnings of -$0.29 Per Share
Equities analysts forecast that Kindred Biosciences, Inc. (NASDAQ:KIN) will post earnings per share (EPS) of ($0.29) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Kindred Biosciences’ earnings. Kindred Biosciences reported earnings per share of ($0.25) in the same quarter last year, which suggests a negative year-over-year growth rate of 16%. The company is expected to issue its next earnings results on Monday, August 14th.
On average, analysts expect that Kindred Biosciences will report full-year earnings of ($1.33) per share for the current financial year, with EPS estimates ranging from ($1.40) to ($1.26). For the next year, analysts anticipate that the firm will post earnings of ($1.08) per share, with EPS estimates ranging from ($1.10) to ($1.05). Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Kindred Biosciences.
Kindred Biosciences (NASDAQ:KIN) last posted its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.04.
Several research firms recently issued reports on KIN. BMO Capital Markets reiterated a “hold” rating and set a $8.00 price target on shares of Kindred Biosciences in a research report on Friday, May 5th. Zacks Investment Research upgraded shares of Kindred Biosciences from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Tuesday, June 20th. ValuEngine upgraded shares of Kindred Biosciences from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. FBR & Co restated a “buy” rating on shares of Kindred Biosciences in a research report on Wednesday, May 31st. Finally, Aegis began coverage on shares of Kindred Biosciences in a research report on Friday, June 16th. They issued a “buy” rating and a $10.50 target price on the stock. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Kindred Biosciences presently has an average rating of “Buy” and an average target price of $8.80.
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Kindred Biosciences (KIN) traded down 6.47% on Tuesday, reaching $7.95. 141,630 shares of the company traded hands. The stock has a 50-day moving average of $7.25 and a 200 day moving average of $6.51. The company’s market capitalization is $185.31 million. Kindred Biosciences has a 52-week low of $3.53 and a 52-week high of $9.65.
In other Kindred Biosciences news, insider Richard Chin sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $8.26, for a total value of $107,380.00. Following the sale, the insider now owns 2,297,546 shares in the company, valued at $18,977,729.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Park West Asset Management Llc bought 155,076 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was bought at an average price of $6.83 per share, for a total transaction of $1,059,169.08. The disclosure for this purchase can be found here. Company insiders own 19.10% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN increased its position in Kindred Biosciences by 1.1% in the first quarter. Wells Fargo & Company MN now owns 329,902 shares of the biopharmaceutical company’s stock valued at $2,326,000 after buying an additional 3,550 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Kindred Biosciences by 28.5% in the first quarter. Goldman Sachs Group Inc. now owns 22,336 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 4,954 shares during the last quarter. Acadian Asset Management LLC increased its position in Kindred Biosciences by 51.6% in the first quarter. Acadian Asset Management LLC now owns 29,759 shares of the biopharmaceutical company’s stock valued at $210,000 after buying an additional 10,134 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Kindred Biosciences during the first quarter valued at about $102,000. Finally, Renaissance Technologies LLC increased its position in Kindred Biosciences by 6.0% in the fourth quarter. Renaissance Technologies LLC now owns 351,600 shares of the biopharmaceutical company’s stock valued at $1,494,000 after buying an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 60.94% of the company’s stock.
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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