Kindred Biosciences, Inc. (NASDAQ:KIN) Receives Average Rating of “Buy” from Brokerages
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.
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