Kindred Biosciences, Inc. (NASDAQ:KIN) has been assigned an average recommendation of “Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $8.67.

Separately, Zacks Investment Research raised shares of Kindred Biosciences from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research report on Wednesday, September 6th.

Shares of Kindred Biosciences (NASDAQ:KIN) remained flat at $7.95 during mid-day trading on Friday. 41,805 shares of the company’s stock traded hands. Kindred Biosciences has a one year low of $3.90 and a one year high of $9.65. The stock’s 50 day moving average is $7.73 and its 200 day moving average is $7.42. The stock’s market cap is $221.30 million.

Kindred Biosciences (NASDAQ:KIN) last released its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.04. Analysts forecast that Kindred Biosciences will post ($1.27) earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in KIN. Dimensional Fund Advisors LP raised its position in shares of Kindred Biosciences by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,369,688 shares of the biopharmaceutical company’s stock valued at $9,656,000 after buying an additional 34,735 shares during the last quarter. UBS Group AG raised its position in 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 purchasing an additional 39,411 shares in the last quarter. Morgan Stanley raised 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 worth $14,294,000 after purchasing an additional 226,822 shares in the last quarter. Renaissance Technologies LLC raised 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 worth $3,559,000 after purchasing an additional 153,200 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised 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 worth $157,000 after purchasing an additional 4,954 shares in the last quarter. 60.37% 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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