Cantor Fitzgerald reiterated their buy rating on shares of Kindred Biosciences (NASDAQ:KIN) in a research report sent to investors on Wednesday morning, Marketbeat reports. The firm currently has a $25.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $20.00.
“. Post positive top-line results from the company’s pilot effectiveness study of KIND-016, we reiterate our Overweight rating and raise our 12-month price target to $25 from $20. Our price-target increase is driven by an increased conviction about KIN’s antibody pipeline, which includes KIND-016, a fully caninized, high-affinity IL-31 monoclonal antibody for the treatment of atopic dermatitis in dogs, an IL4/IL13 product that is likely to readout in early 2019, and by a number of undisclosed antibody products that the company is working on but has not yet disclosed.”,” the firm’s analyst wrote.
A number of other research firms also recently issued reports on KIN. HC Wainwright restated a buy rating and set a $16.00 target price on shares of Kindred Biosciences in a research report on Monday, August 13th. Zacks Investment Research downgraded shares of Kindred Biosciences from a buy rating to a hold rating in a research report on Wednesday, August 15th. LADENBURG THALM/SH SH cut Kindred Biosciences from a buy rating to a neutral rating in a research note on Tuesday, August 7th. BidaskClub cut Kindred Biosciences from a strong-buy rating to a buy rating in a research note on Tuesday, September 11th. Finally, B. Riley upped their price target on Kindred Biosciences from $12.50 to $16.00 and gave the company a buy rating in a research note on Tuesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Kindred Biosciences has a consensus rating of Buy and a consensus target price of $17.75.
Kindred Biosciences stock opened at $14.42 on Wednesday. Kindred Biosciences has a 1 year low of $6.95 and a 1 year high of $15.75.
Kindred Biosciences (NASDAQ:KIN) last released its earnings results on Thursday, August 9th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.01). As a group, equities research analysts expect that Kindred Biosciences will post -1.51 earnings per share for the current year.
In related news, Director Raymond Townsend sold 3,000 shares of the stock in a transaction that occurred on Wednesday, September 26th. The stock was sold at an average price of $13.32, for a total transaction of $39,960.00. Following the completion of the sale, the director now directly owns 27,813 shares of the company’s stock, valued at approximately $370,469.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard Chin sold 40,000 shares of the stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $14.68, for a total value of $587,200.00. Following the sale, the chief executive officer now directly owns 1,986,071 shares of the company’s stock, valued at $29,155,522.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 123,000 shares of company stock valued at $1,749,960. 15.96% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of KIN. Dimensional Fund Advisors LP increased its stake in Kindred Biosciences by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,365,002 shares of the biopharmaceutical company’s stock worth $11,807,000 after purchasing an additional 5,587 shares in the last quarter. Sit Investment Associates Inc. bought a new stake in Kindred Biosciences during the 2nd quarter worth approximately $752,000. Trexquant Investment LP bought a new stake in Kindred Biosciences during the 2nd quarter worth approximately $235,000. Schwab Charles Investment Management Inc. increased its stake in Kindred Biosciences by 35.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 56,979 shares of the biopharmaceutical company’s stock worth $607,000 after purchasing an additional 14,879 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Kindred Biosciences by 20.1% during the 2nd quarter. BlackRock Inc. now owns 1,325,147 shares of the biopharmaceutical company’s stock worth $14,114,000 after purchasing an additional 221,578 shares in the last quarter. 62.64% of the stock is owned by institutional investors and hedge funds.
About Kindred Biosciences
Kindred Biosciences, Inc, a biopharmaceutical company, focuses on the development of therapies for pets. The company's product pipeline includes small molecules and biologics for a range of indications in dogs, cats, and horses. Its lead product candidates comprise Zimeta, a dipyrone injection for the control of pyrexia (fever) in horses; and Mirataz, a mirtazapine transdermal ointment for the management of weight loss in cats.
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