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.
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.
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