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.

Analyst Recommendations for Kindred Biosciences (NASDAQ:KIN)

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