Kindred Biosciences (NASDAQ:KIN) was downgraded by equities researchers at B. Riley from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, Marketbeat.com reports. They presently have a $8.50 price target on the biopharmaceutical company’s stock, down from their prior price target of $18.00. B. Riley’s target price points to a potential upside of 23.37% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Barclays reissued a “hold” rating on shares of Bank of Montreal in a research note on Tuesday, June 11th. Aegis started coverage on shares of Kindred Biosciences in a research note on Wednesday, April 10th. They issued a “buy” rating and a $16.00 target price for the company. Zacks Investment Research raised shares of Zurich Insurance Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 18th. Cantor Fitzgerald set a $135.00 target price on shares of Zimmer Biomet and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Stifel Nicolaus set a $154.00 target price on shares of argenx and gave the company a “buy” rating in a research note on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Kindred Biosciences presently has an average rating of “Buy” and an average price target of $14.28.

Shares of KIN opened at $6.89 on Tuesday. The company has a market cap of $269.14 million, a PE ratio of -4.31 and a beta of 0.45. Kindred Biosciences has a twelve month low of $6.62 and a twelve month high of $15.75. The business’s 50 day simple moving average is $8.05. The company has a quick ratio of 8.70, a current ratio of 9.10 and a debt-to-equity ratio of 0.01.

Kindred Biosciences (NASDAQ:KIN) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.01). The company had revenue of $0.52 million for the quarter, compared to analyst estimates of $1.95 million. Equities research analysts forecast that Kindred Biosciences will post -1.45 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of KIN. Marshall Wace LLP acquired a new stake in shares of Kindred Biosciences during the first quarter worth $53,000. BNP Paribas Arbitrage SA raised its stake in Kindred Biosciences by 83,433.3% in the first quarter. BNP Paribas Arbitrage SA now owns 7,518 shares of the biopharmaceutical company’s stock valued at $69,000 after purchasing an additional 7,509 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Kindred Biosciences by 362.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,647 shares of the biopharmaceutical company’s stock valued at $106,000 after purchasing an additional 7,563 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Kindred Biosciences by 16.7% in the first quarter. Meeder Asset Management Inc. now owns 11,922 shares of the biopharmaceutical company’s stock valued at $109,000 after purchasing an additional 1,706 shares in the last quarter. Finally, Teton Advisors Inc. raised its stake in Kindred Biosciences by 30.8% in the first quarter. Teton Advisors Inc. now owns 17,000 shares of the biopharmaceutical company’s stock valued at $156,000 after purchasing an additional 4,000 shares in the last quarter. 65.14% of the stock is owned by institutional investors.

About Kindred Biosciences

Kindred Biosciences, Inc, a commercial-stage biopharmaceutical company, focusing on developing therapies for pets. Its product pipeline consists of small molecules and biologics for a range of indications in dogs, cats, and horses. The company offers Mirataz, a mirtazapine transdermal ointment for the management of weight loss in cats.

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Analyst Recommendations for Kindred Biosciences (NASDAQ:KIN)

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