Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Kindred Biosciences (KIN) Share Price
News stories about Kindred Biosciences (NASDAQ:KIN) have trended somewhat positive on Saturday, according to Accern Sentiment Analysis. Accern identifies negative and positive press coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Kindred Biosciences earned a daily sentiment score of 0.15 on Accern’s scale. Accern also assigned media coverage about the biopharmaceutical company an impact score of 47.2047529448588 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
KIN has been the subject of a number of research reports. BMO Capital Markets reaffirmed a “hold” rating and issued a $8.00 price objective on shares of Kindred Biosciences in a research note on Friday, May 5th. FBR & Co began coverage on shares of Kindred Biosciences in a report on Wednesday, May 24th. They set an “outperform” rating and a $10.00 price target for the company. Zacks Investment Research upgraded shares of Kindred Biosciences from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a report on Wednesday, May 24th. ValuEngine upgraded shares of Kindred Biosciences from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Aegis began coverage on shares of Kindred Biosciences in a report on Friday, June 16th. They set a “buy” rating and a $10.50 price target for the company. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $8.85.
Kindred Biosciences (KIN) opened at 7.35 on Friday. Kindred Biosciences has a one year low of $3.90 and a one year high of $9.65. The firm has a 50-day moving average of $7.43 and a 200 day moving average of $7.05. The company’s market capitalization is $204.60 million.
Kindred Biosciences (NASDAQ:KIN) last released its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.04. Equities research analysts predict that Kindred Biosciences will post ($1.27) earnings per share for the current fiscal year.
In related news, insider Richard Chin sold 13,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $8.26, for a total transaction of $107,380.00. Following the completion of the transaction, the insider now directly owns 2,297,546 shares in the company, valued at approximately $18,977,729.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Park West Asset Management Llc bought 600,000 shares of the stock in a transaction that occurred on Wednesday, July 12th. The shares were purchased at an average price of $7.50 per share, with a total value of $4,500,000.00. The disclosure for this purchase can be found here. Corporate insiders own 19.10% of the company’s stock.
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Kindred Biosciences Company Profile
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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