Kindred Biosciences Inc (KIN) Receives Consensus Rating of “Buy” from Analysts

Shares of Kindred Biosciences Inc (NASDAQ:KIN) have received a consensus recommendation of “Buy” from the twelve ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $18.44.

Several equities analysts recently weighed in on the company. HC Wainwright set a $16.00 target price on Kindred Biosciences and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Cantor Fitzgerald reiterated a “buy” rating and set a $25.00 target price (up from $20.00) on shares of Kindred Biosciences in a research report on Wednesday, October 31st. BidaskClub upgraded Kindred Biosciences from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. Zacks Investment Research downgraded Kindred Biosciences from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. Finally, B. Riley increased their target price on Kindred Biosciences from $12.50 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th.

Shares of KIN opened at $14.20 on Thursday. Kindred Biosciences has a fifty-two week low of $6.95 and a fifty-two week high of $15.75. The firm has a market capitalization of $487.39 million, a P/E ratio of -11.54 and a beta of 0.25.

Kindred Biosciences (NASDAQ:KIN) last issued its quarterly earnings data on Thursday, August 9th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.01). On average, analysts forecast that Kindred Biosciences will post -1.51 EPS for the current fiscal year.

In other Kindred Biosciences news, Director Raymond Townsend sold 3,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $370,469.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard Chin sold 40,000 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $14.79, for a total value of $591,600.00. Following the sale, the insider now owns 2,073,671 shares of the company’s stock, valued at $30,669,594.09. The disclosure for this sale can be found here. Insiders have sold 123,000 shares of company stock worth $1,749,960 over the last quarter. 15.96% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Metropolitan Life Insurance Co. NY acquired a new stake in Kindred Biosciences during the second quarter worth about $103,000. Tower Research Capital LLC TRC increased its stake in Kindred Biosciences by 764.3% during the second quarter. Tower Research Capital LLC TRC now owns 9,671 shares of the biopharmaceutical company’s stock worth $103,000 after acquiring an additional 8,552 shares during the last quarter. Paloma Partners Management Co acquired a new stake in Kindred Biosciences during the second quarter worth about $119,000. Meeder Asset Management Inc. increased its stake in Kindred Biosciences by 90.1% during the third quarter. Meeder Asset Management Inc. now owns 8,698 shares of the biopharmaceutical company’s stock worth $122,000 after acquiring an additional 4,122 shares during the last quarter. Finally, MetLife Investment Advisors LLC acquired a new stake in Kindred Biosciences during the second quarter worth about $146,000. Institutional investors own 62.23% of the company’s stock.

Kindred Biosciences Company Profile

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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Analyst Recommendations for Kindred Biosciences (NASDAQ:KIN)

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