Shares of Kindred Biosciences, Inc. (NASDAQ:KIN) have been assigned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $8.50.

KIN has been the subject of a number of recent analyst reports. BMO Capital Markets reissued a “hold” rating and set a $8.00 target price on shares of Kindred Biosciences in a research report on Friday, May 5th. FBR & Co initiated coverage on shares of Kindred Biosciences in a research report on Wednesday, May 24th. They set an “outperform” rating and a $10.00 target price for the company. Zacks Investment Research raised shares of Kindred Biosciences from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a research report on Wednesday, May 24th. ValuEngine raised shares of Kindred Biosciences from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Aegis initiated coverage on shares of Kindred Biosciences in a research report on Friday, June 16th. They set a “buy” rating and a $10.50 target price for the company.

Kindred Biosciences (NASDAQ KIN) traded up 0.65% on Friday, reaching $7.70. 147,844 shares of the company traded hands. The stock’s market capitalization is $179.49 million. Kindred Biosciences has a one year low of $3.53 and a one year high of $9.65. The firm has a 50 day moving average of $7.25 and a 200-day moving average of $6.51.

Kindred Biosciences (NASDAQ:KIN) last released its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. On average, analysts anticipate that Kindred Biosciences will post ($1.40) EPS for the current year.

In related news, major shareholder Park West Asset Management Llc acquired 155,076 shares of Kindred Biosciences stock in a transaction dated Thursday, May 11th. The stock was bought at an average price of $6.83 per share, with a total value of $1,059,169.08. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Richard Chin sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $7.75, for a total transaction of $100,750.00. Following the sale, the insider now directly owns 2,310,546 shares of the company’s stock, valued at approximately $17,906,731.50. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 770,387 shares of company stock valued at $5,660,987. Insiders own 19.10% of the company’s stock.

Several institutional investors have recently modified their holdings of KIN. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Kindred Biosciences during the first quarter worth about $102,000. Goldman Sachs Group Inc. boosted its position in shares of Kindred Biosciences by 28.5% in the first quarter. Goldman Sachs Group Inc. now owns 22,336 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 4,954 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Kindred Biosciences by 51.6% in the first quarter. Acadian Asset Management LLC now owns 29,759 shares of the biopharmaceutical company’s stock worth $210,000 after buying an additional 10,134 shares in the last quarter. UBS Group AG boosted its position in shares of Kindred Biosciences by 152.7% in the first quarter. UBS Group AG now owns 65,217 shares of the biopharmaceutical company’s stock worth $460,000 after buying an additional 39,411 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Kindred Biosciences by 1.1% in the first quarter. Wells Fargo & Company MN now owns 329,902 shares of the biopharmaceutical company’s stock worth $2,326,000 after buying an additional 3,550 shares in the last quarter. Institutional investors own 60.94% of the company’s stock.

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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.

Analyst Recommendations for Kindred Biosciences (NASDAQ:KIN)

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