Zacks Investment Research upgraded shares of Kindred Biosciences (NASDAQ:KIN) from a sell rating to a hold rating in a report published on Saturday morning.

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. “

A number of other equities research analysts have also weighed in on KIN. ValuEngine lowered Kindred Biosciences from a hold rating to a sell rating in a research report on Wednesday, January 3rd. CL King began coverage on Kindred Biosciences in a research report on Wednesday, December 27th. They issued a neutral rating on the stock. HC Wainwright began coverage on Kindred Biosciences in a research report on Friday, November 17th. They issued a buy rating and a $9.50 price objective on the stock. B. Riley reiterated a buy rating and issued a $11.00 price objective on shares of Kindred Biosciences in a research report on Monday, November 20th. Finally, BMO Capital Markets reiterated a hold rating on shares of Kindred Biosciences in a research report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $9.63.

Shares of Kindred Biosciences (KIN) traded down $0.10 during trading on Friday, reaching $8.85. The company’s stock had a trading volume of 55,630 shares, compared to its average volume of 98,261. The stock has a market cap of $249.21, a PE ratio of -7.56 and a beta of 0.18. Kindred Biosciences has a 1-year low of $5.00 and a 1-year high of $9.80.

Kindred Biosciences (NASDAQ:KIN) last announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.04. equities analysts anticipate that Kindred Biosciences will post -1.19 earnings per share for the current year.

In related news, Director Raymond Townsend sold 6,419 shares of Kindred Biosciences stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $9.45, for a total transaction of $60,659.55. Following the sale, the director now directly owns 18,419 shares in the company, valued at $174,059.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 19.10% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KIN. Schwab Charles Investment Management Inc. bought a new stake in shares of Kindred Biosciences during the second quarter valued at approximately $306,000. Rhumbline Advisers bought a new stake in shares of Kindred Biosciences during the second quarter valued at approximately $197,000. State of Wisconsin Investment Board bought a new stake in shares of Kindred Biosciences during the second quarter valued at approximately $129,000. Bank of New York Mellon Corp bought a new stake in shares of Kindred Biosciences during the second quarter valued at approximately $546,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Kindred Biosciences during the second quarter valued at approximately $119,000. Institutional investors own 66.79% of the company’s stock.

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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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