Zacks Investment Research lowered shares of Kindred Biosciences, Inc. (NASDAQ:KIN) from a buy rating to a hold rating in a research note published on Wednesday.

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. “

Separately, Aegis started coverage on shares of Kindred Biosciences in a research report on Friday, June 16th. They set a buy rating and a $10.50 price objective on the stock. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Kindred Biosciences has a consensus rating of Buy and a consensus target price of $8.85.

Kindred Biosciences (NASDAQ KIN) traded up 1.24% during midday trading on Wednesday, reaching $8.15. 68,526 shares of the company’s stock traded hands. The company’s 50-day moving average price is $7.59 and its 200 day moving average price is $7.37. Kindred Biosciences has a 52 week low of $3.90 and a 52 week high of $9.65. The stock’s market capitalization is $226.87 million.

Kindred Biosciences (NASDAQ:KIN) last issued its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.04. On average, equities research analysts expect that Kindred Biosciences will post ($1.27) earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the business. Nationwide Fund Advisors acquired a new position in Kindred Biosciences during the second quarter valued at approximately $100,000. JPMorgan Chase & Co. acquired a new position in Kindred Biosciences during the second quarter valued at approximately $119,000. Trexquant Investment LP acquired a new position in Kindred Biosciences during the second quarter valued at approximately $120,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Kindred Biosciences during the first quarter valued at approximately $102,000. Finally, OxFORD Asset Management LLP acquired a new position in Kindred Biosciences during the second quarter valued at approximately $128,000. Institutional investors own 60.37% of the company’s stock.

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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