Kindred Biosciences (NASDAQ:KIN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday.

According to Zacks, “Kindred Biosciences is a development-stage biopharmaceutical company focused on saving and improving the lives of pets. Its mission is to bring to pets the same kinds of safe and effective medicines that human family members enjoy. The Company’s strategy is to identify compounds and targets that have already demonstrated safety and efficacy in humans and to develop therapeutics based on these validated compounds and targets for dogs, cats and horses. The Company has a deep pipeline of novel drugs and biologics in development across many therapeutic classes. “

A number of other research analysts have also recently weighed in on the stock. HC Wainwright assumed coverage on shares of Kindred Biosciences in a report on Friday, November 17th. They issued a “buy” rating and a $9.50 price objective for the company. B. Riley reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Kindred Biosciences in a report on Monday, November 20th. ValuEngine raised shares of Kindred Biosciences from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Aegis reaffirmed a “buy” rating on shares of Kindred Biosciences in a report on Friday, December 15th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Kindred Biosciences in a report on Friday, December 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $9.63.

Shares of Kindred Biosciences (KIN) traded down $0.10 during trading on Friday, hitting $8.85. 55,630 shares of the company traded hands, compared to its average volume of 98,261. Kindred Biosciences has a 12-month low of $5.00 and a 12-month high of $9.80. The stock has a market capitalization of $252.02, a PE ratio of -7.56 and a beta of 0.18.

Kindred Biosciences (NASDAQ:KIN) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.04. analysts expect that Kindred Biosciences will post -1.19 EPS for the current year.

In other Kindred Biosciences news, Director Raymond Townsend sold 6,419 shares of Kindred Biosciences stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $9.45, for a total value of $60,659.55. Following the completion of the transaction, the director now owns 18,419 shares of the company’s stock, valued at $174,059.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 19.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in KIN. Nationwide Fund Advisors acquired a new stake in shares of Kindred Biosciences in the second quarter valued at about $100,000. JPMorgan Chase & Co. acquired a new stake in shares of Kindred Biosciences in the second quarter valued at about $119,000. SG Americas Securities LLC acquired a new stake in shares of Kindred Biosciences in the third quarter valued at about $123,000. OxFORD Asset Management LLP acquired a new stake in shares of Kindred Biosciences in the second quarter valued at about $128,000. Finally, State of Wisconsin Investment Board acquired a new stake in shares of Kindred Biosciences in the second quarter valued at about $129,000. Institutional investors and hedge funds own 66.79% of the company’s stock.

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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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