BidaskClub Downgrades Kindred Biosciences (KIN) to Hold

Kindred Biosciences (NASDAQ:KIN) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Other equities analysts also recently issued research reports about the stock. HC Wainwright restated a “buy” rating and set a $16.00 price objective on shares of Kindred Biosciences in a research report on Monday, August 13th. Zacks Investment Research downgraded shares of Kindred Biosciences from a “hold” rating to a “sell” rating in a research report on Tuesday, November 13th. Cantor Fitzgerald set a $25.00 price objective on shares of Kindred Biosciences and gave the stock a “buy” rating in a research report on Monday, December 3rd. Finally, B. Riley upped their price objective on shares of Kindred Biosciences from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, November 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $19.35.

Kindred Biosciences stock opened at $12.16 on Friday. The company has a market capitalization of $425.61 million, a PE ratio of -9.89 and a beta of 0.23. Kindred Biosciences has a 1 year low of $7.55 and a 1 year high of $15.75.

Kindred Biosciences (NASDAQ:KIN) last released its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. The company had revenue of $0.64 million during the quarter. As a group, sell-side analysts anticipate that Kindred Biosciences will post -1.59 earnings per share for the current fiscal year.

In related news, CEO Richard Chin sold 40,000 shares of the stock in a transaction dated Thursday, November 1st. The shares were 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 approximately $29,155,522.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Raymond Townsend sold 3,000 shares of the stock in a transaction dated Wednesday, September 26th. The shares were 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 disclosure for this sale can be found here. Over the last three months, insiders sold 123,000 shares of company stock worth $1,689,560. 15.96% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its stake in shares of Kindred Biosciences by 764.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,671 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 8,552 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Kindred Biosciences during the 2nd quarter worth about $103,000. Paloma Partners Management Co acquired a new stake in shares of Kindred Biosciences during the 2nd quarter worth about $119,000. Meeder Asset Management Inc. boosted its stake in shares of Kindred Biosciences by 90.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 8,698 shares of the biopharmaceutical company’s stock worth $122,000 after purchasing an additional 4,122 shares during the last quarter. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of Kindred Biosciences during the 2nd quarter worth about $146,000. 66.43% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Kindred Biosciences (NASDAQ:KIN)

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