Kindred Biosciences (KIN) Upgraded at BidaskClub

BidaskClub upgraded shares of Kindred Biosciences (NASDAQ:KIN) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

A number of other research firms also recently weighed in on KIN. CL King began coverage on shares of Kindred Biosciences in a research note on Wednesday, December 27th. They issued a neutral rating on the stock. Zacks Investment Research downgraded shares of Kindred Biosciences from a hold rating to a sell rating in a research note on Wednesday, January 3rd. ValuEngine downgraded shares of Kindred Biosciences from a hold rating to a sell rating in a research note on Wednesday, January 3rd. HC Wainwright set a $11.00 price target on shares of Kindred Biosciences and gave the stock a buy rating in a research note on Friday, March 2nd. Finally, BMO Capital Markets reaffirmed a hold rating on shares of Kindred Biosciences in a research note on Friday, December 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $9.79.

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Shares of NASDAQ:KIN opened at $9.25 on Friday. Kindred Biosciences has a 12-month low of $6.50 and a 12-month high of $9.80. The firm has a market cap of $259.34, a price-to-earnings ratio of -7.52 and a beta of 0.08.

Kindred Biosciences (NASDAQ:KIN) last posted its quarterly earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.02). equities research analysts anticipate that Kindred Biosciences will post -1.5 earnings per share for the current year.

In related news, insider Richard Chin sold 20,000 shares of the company’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $8.39, for a total value of $167,800.00. Following the completion of the sale, the insider now directly owns 2,266,071 shares in the company, valued at $19,012,335.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond Townsend sold 2,670 shares of the company’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $9.45, for a total transaction of $25,231.50. Following the completion of the sale, the director now owns 25,057 shares of the company’s stock, valued at $236,788.65. The disclosure for this sale can be found here. Insiders sold 22,761 shares of company stock valued at $193,891 over the last quarter. 19.10% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in Kindred Biosciences during the third quarter valued at about $123,000. The Manufacturers Life Insurance Company boosted its holdings in Kindred Biosciences by 18,470.3% during the second quarter. The Manufacturers Life Insurance Company now owns 18,756 shares of the biopharmaceutical company’s stock valued at $161,000 after acquiring an additional 18,655 shares during the period. California State Teachers Retirement System bought a new stake in Kindred Biosciences during the second quarter valued at about $321,000. Schwab Charles Investment Management Inc. boosted its holdings in Kindred Biosciences by 18.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 42,100 shares of the biopharmaceutical company’s stock valued at $398,000 after acquiring an additional 6,600 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Kindred Biosciences by 17.5% during the third quarter. Bank of New York Mellon Corp now owns 74,548 shares of the biopharmaceutical company’s stock valued at $586,000 after acquiring an additional 11,081 shares during the period. Institutional investors own 64.36% 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.

Analyst Recommendations for Kindred Biosciences (NASDAQ:KIN)

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