Kindred Biosciences, Inc. (NASDAQ:KIN) Receives Consensus Rating of “Buy” from Brokerages
Kindred Biosciences, Inc. (NASDAQ:KIN) has received a consensus rating of “Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $8.56.
Several equities analysts have recently weighed in on the company. BMO Capital Markets reiterated a “hold” rating and issued a $8.00 price target on shares of Kindred Biosciences in a research report on Friday, May 5th. Zacks Investment Research upgraded Kindred Biosciences from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Tuesday, June 20th. ValuEngine raised Kindred Biosciences from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. FBR & Co reaffirmed a “buy” rating on shares of Kindred Biosciences in a research note on Wednesday, May 31st. Finally, Aegis began coverage on Kindred Biosciences in a research note on Friday, June 16th. They issued a “buy” rating and a $10.50 target price for the company.
Kindred Biosciences (KIN) opened at 7.20 on Friday. Kindred Biosciences has a 52-week low of $3.86 and a 52-week high of $9.65. The stock’s 50 day moving average is $7.87 and its 200 day moving average is $6.98. The company’s market cap is $167.83 million.
Kindred Biosciences (NASDAQ:KIN) last released its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.04. On average, analysts predict that Kindred Biosciences will post ($1.31) earnings per share for the current fiscal year.
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In related news, 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 sale, the insider now owns 2,297,546 shares in the company, valued at approximately $18,977,729.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Park West Asset Management Llc purchased 600,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The stock was bought at an average price of $7.50 per share, for a total transaction of $4,500,000.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 770,387 shares of company stock worth $5,660,987 in the last quarter. Company insiders own 19.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted 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 during the last quarter. Renaissance Technologies LLC boosted its position in Kindred Biosciences by 6.0% in the fourth quarter. Renaissance Technologies LLC now owns 351,600 shares of the biopharmaceutical company’s stock valued at $1,494,000 after buying an additional 20,000 shares during the last quarter. Acadian Asset Management LLC boosted its position in Kindred Biosciences by 51.6% in the first quarter. Acadian Asset Management LLC now owns 29,759 shares of the biopharmaceutical company’s stock valued at $210,000 after buying an additional 10,134 shares during the last quarter. Wells Fargo & Company MN boosted its position in Kindred Biosciences by 1.1% in the first quarter. Wells Fargo & Company MN now owns 329,902 shares of the biopharmaceutical company’s stock valued at $2,326,000 after buying an additional 3,550 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Kindred Biosciences during the first quarter valued at $102,000. 51.91% of the stock is currently owned by hedge funds and other institutional investors.
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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