Kindred Biosciences Inc (KIN) Receives Consensus Rating of “Hold” from Brokerages
Kindred Biosciences Inc (NASDAQ:KIN) has been given an average rating of “Hold” by the eight brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $10.50.
Several research analysts have recently issued reports on KIN shares. Zacks Investment Research raised Kindred Biosciences from a “hold” rating to a “buy” rating and set a $8.25 price target for the company in a research note on Wednesday, September 27th. B. Riley reissued a “buy” rating and issued a $11.00 price target on shares of Kindred Biosciences in a research note on Monday, November 20th. HC Wainwright started coverage on Kindred Biosciences in a research note on Friday, November 17th. They issued a “buy” rating and a $9.50 price target for the company. Aegis reissued a “buy” rating on shares of Kindred Biosciences in a research note on Friday, December 15th. Finally, ValuEngine raised Kindred Biosciences from a “sell” rating to a “hold” rating in a research note on Friday, December 1st.
Shares of Kindred Biosciences (NASDAQ KIN) traded down $0.05 on Friday, reaching $9.10. The company had a trading volume of 48,502 shares, compared to its average volume of 65,900. The company has a market cap of $256.11, a P/E ratio of -7.78 and a beta of 0.18. Kindred Biosciences has a 52-week low of $5.00 and a 52-week high of $9.80.
In other news, Director Raymond Townsend sold 6,419 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $9.45, for a total value of $60,659.55. Following the completion of the sale, the director now owns 18,419 shares in the company, valued at $174,059.55. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 KIN. Schwab Charles Investment Management Inc. purchased a new stake in Kindred Biosciences in the 2nd quarter worth about $306,000. Rhumbline Advisers purchased a new stake in Kindred Biosciences in the 2nd quarter worth about $197,000. State of Wisconsin Investment Board purchased a new stake in Kindred Biosciences in the 2nd quarter worth about $129,000. Bank of New York Mellon Corp purchased a new stake in Kindred Biosciences in the 2nd quarter worth about $546,000. Finally, JPMorgan Chase & Co. purchased a new stake in Kindred Biosciences in the 2nd quarter worth about $119,000. 66.79% 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.
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