Kindred Biosciences, Inc. (NASDAQ:KIN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Kindred Biosciences is a development-stage biopharmaceutical company focused on saving and improving the lives of pets. Its mission is to bring to pets the same kinds of safe and effective medicines that human family members enjoy. The Company’s strategy is to identify compounds and targets that have already demonstrated safety and efficacy in humans and to develop therapeutics based on these validated compounds and targets for dogs, cats and horses. The Company has a deep pipeline of novel drugs and biologics in development across many therapeutic classes. “
KIN has been the topic of a number of other reports. FBR & Co reiterated a “buy” rating on shares of Kindred Biosciences in a research note on Wednesday, May 31st. Aegis initiated coverage on Kindred Biosciences in a research note on Friday, June 16th. They set a “buy” rating and a $10.50 price objective on the stock. ValuEngine upgraded Kindred Biosciences from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BMO Capital Markets reiterated a “hold” rating and set a $8.00 price objective on shares of Kindred Biosciences in a research note on Monday, May 15th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Kindred Biosciences presently has a consensus rating of “Buy” and an average target price of $8.90.
Shares of Kindred Biosciences (NASDAQ KIN) opened at 7.50 on Tuesday. Kindred Biosciences has a 12-month low of $3.90 and a 12-month high of $9.65. The stock’s 50 day moving average price is $7.29 and its 200 day moving average price is $7.16. The firm’s market capitalization is $208.78 million.
Kindred Biosciences (NASDAQ:KIN) last released its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.04. Equities research analysts expect that Kindred Biosciences will post ($1.27) earnings per share for the current year.
In other Kindred Biosciences news, major shareholder Park West Asset Management Llc bought 600,000 shares of Kindred Biosciences stock in a transaction that occurred on Wednesday, July 12th. The stock was acquired at an average cost of $7.50 per share, for a total transaction of $4,500,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard Chin sold 13,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $8.26, for a total value of $107,380.00. Following the transaction, the insider now owns 2,297,546 shares of the company’s stock, valued at $18,977,729.96. The disclosure for this sale can be found here. 19.10% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors purchased a new position in Kindred Biosciences during the second quarter worth about $100,000. JPMorgan Chase & Co. purchased a new position in Kindred Biosciences during the second quarter worth about $119,000. Trexquant Investment LP purchased a new position in Kindred Biosciences during the second quarter worth about $120,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Kindred Biosciences during the first quarter worth about $102,000. Finally, OxFORD Asset Management LLP purchased a new position in Kindred Biosciences during the second quarter worth about $128,000. Institutional investors and hedge funds own 60.37% of the company’s stock.
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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