Kindred Biosciences, Inc. (NASDAQ:KIN) has earned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $8.56.

Several research analysts have recently weighed in on KIN shares. Zacks Investment Research raised Kindred Biosciences from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a research note on Wednesday, May 24th. FBR & Co reaffirmed a “buy” rating on shares of Kindred Biosciences in a research note on Wednesday, May 31st. Aegis started coverage on Kindred Biosciences in a research note on Friday, June 16th. They set a “buy” rating and a $10.50 target price for the company. ValuEngine raised Kindred Biosciences from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $8.00 target price on shares of Kindred Biosciences in a research note on Monday, May 15th.

Kindred Biosciences (NASDAQ:KIN) traded down 2.04% during midday trading on Tuesday, reaching $7.20. 106,605 shares of the company’s stock were exchanged. Kindred Biosciences has a 52 week low of $3.86 and a 52 week high of $9.65. The firm’s 50 day moving average is $7.87 and its 200 day moving average is $6.98. The firm’s market capitalization is $167.83 million.

Kindred Biosciences (NASDAQ:KIN) last announced its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.04. On average, equities analysts anticipate that Kindred Biosciences will post ($1.31) earnings per share for the current year.

In other Kindred Biosciences news, major shareholder Park West Asset Management Llc bought 15,311 shares of Kindred Biosciences stock in a transaction dated Thursday, June 8th. The stock was acquired at an average cost of $6.65 per share, with a total value of $101,818.15. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Richard Chin sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $8.26, for a total value of $107,380.00. Following the transaction, the insider now directly owns 2,297,546 shares of the company’s stock, valued at $18,977,729.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 770,387 shares of company stock valued at $5,660,987. Corporate insiders own 19.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Park West Asset Management LLC increased its position in shares of Kindred Biosciences by 120.5% in the first quarter. Park West Asset Management LLC now owns 4,386,404 shares of the biopharmaceutical company’s stock valued at $30,924,000 after buying an additional 2,397,320 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Kindred Biosciences by 5,283.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,334,953 shares of the biopharmaceutical company’s stock valued at $5,674,000 after buying an additional 1,310,155 shares in the last quarter. Morgan Stanley increased its position in Kindred Biosciences by 12.6% in the first quarter. Morgan Stanley now owns 2,027,560 shares of the biopharmaceutical company’s stock valued at $14,294,000 after buying an additional 226,822 shares in the last quarter. Renaissance Technologies LLC increased its position in Kindred Biosciences by 43.6% in the first quarter. Renaissance Technologies LLC now owns 504,800 shares of the biopharmaceutical company’s stock valued at $3,559,000 after buying an additional 153,200 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Kindred Biosciences during the second quarter valued at approximately $546,000. 51.91% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Kindred Biosciences (NASDAQ:KIN)

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