Kindred Biosciences (NASDAQ:KIN)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a report released on Monday. They presently have a $19.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 72.26% from the stock’s previous close.
The analysts wrote, “We maintain our Buy rating of KIN and our 12-month price target of $19.00 per share. We derive our price target based on a risk-adjusted net present value analysis of projected product revenues through 2027 assuming a 10% discount rate and 3% terminal growth rate. We derive an rNPV of $605M for the pipeline products and add in $92M in cash and cash equivalents to arrive at a 12-month price target of $18.53 per diluted share, which we round to $19.00.””
Several other brokerages also recently commented on KIN. BidaskClub upgraded Kindred Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research downgraded Kindred Biosciences from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. Cantor Fitzgerald set a $25.00 target price on Kindred Biosciences and gave the stock a “buy” rating in a research note on Monday, December 3rd. Finally, B. Riley raised their target price on Kindred Biosciences from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Kindred Biosciences has an average rating of “Buy” and a consensus price target of $19.35.
Shares of KIN stock traded down $0.20 on Monday, hitting $11.03. 3,465 shares of the stock were exchanged, compared to its average volume of 124,147. The company has a market capitalization of $390.68 million, a price-to-earnings ratio of -8.94 and a beta of 0.54. Kindred Biosciences has a one year low of $7.55 and a one year high of $15.75.
Kindred Biosciences (NASDAQ:KIN) last posted its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.01. The firm had revenue of $0.64 million for the quarter. On average, analysts predict that Kindred Biosciences will post -1.59 EPS for the current fiscal year.
In other Kindred Biosciences news, CEO Richard Chin sold 40,000 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $13.28, for a total value of $531,200.00. Following the sale, the chief executive officer now owns 1,946,071 shares of the company’s stock, valued at approximately $25,843,822.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 120,000 shares of company stock worth $1,541,200. Insiders own 15.96% of the company’s stock.
Several large investors have recently added to or reduced their stakes in KIN. BlackRock Inc. raised its holdings in shares of Kindred Biosciences by 38.1% during the 3rd quarter. BlackRock Inc. now owns 1,829,393 shares of the biopharmaceutical company’s stock valued at $25,520,000 after buying an additional 504,246 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Kindred Biosciences by 36.5% during the 2nd quarter. Renaissance Technologies LLC now owns 948,700 shares of the biopharmaceutical company’s stock valued at $10,104,000 after buying an additional 253,500 shares in the last quarter. Allianz Asset Management GmbH purchased a new position in shares of Kindred Biosciences during the 3rd quarter valued at about $3,501,000. Granahan Investment Management Inc. MA raised its holdings in shares of Kindred Biosciences by 92.9% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 318,741 shares of the biopharmaceutical company’s stock valued at $3,395,000 after buying an additional 153,479 shares in the last quarter. Finally, EAM Global Investors LLC purchased a new position in shares of Kindred Biosciences during the 3rd quarter valued at about $1,350,000. 66.43% of the stock is currently owned by hedge funds and other institutional investors.
About Kindred Biosciences
Kindred Biosciences, Inc, a biopharmaceutical company, focuses on the development of therapies for pets. The company's product pipeline includes small molecules and biologics for a range of indications in dogs, cats, and horses. Its lead product candidates comprise Zimeta, a dipyrone injection for the control of pyrexia (fever) in horses; and Mirataz, a mirtazapine transdermal ointment for the management of weight loss in cats.
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