Kindred Biosciences, Inc. (NASDAQ:KIN) has been assigned an average rating of “Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $8.56.
Several brokerages have commented on KIN. Zacks Investment Research cut shares of Kindred Biosciences from a “buy” rating to a “hold” rating in a research report on Friday, June 16th. BMO Capital Markets reissued a “hold” rating and issued a $8.00 price target on shares of Kindred Biosciences in a research report on Monday, May 15th. ValuEngine raised shares of Kindred Biosciences from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Aegis began coverage on shares of Kindred Biosciences in a research report on Friday, June 16th. They set a “buy” rating and a $10.50 price objective for the company. Finally, FBR & Co began coverage on shares of Kindred Biosciences in a research report on Wednesday, May 24th. They set an “outperform” rating and a $10.00 price objective for the company.
In related news, insider Richard Chin sold 13,000 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $8.26, for a total value of $107,380.00. Following the completion of the sale, the insider now directly owns 2,297,546 shares of the company’s stock, valued at $18,977,729.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Park West Asset Management Llc purchased 600,000 shares of Kindred Biosciences stock in a transaction that occurred on Wednesday, July 12th. The stock was bought at an average cost of $7.50 per share, with a total value of $4,500,000.00. The disclosure for this purchase can be found here. 19.10% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its stake in shares of Kindred Biosciences by 1.1% in the first quarter. Wells Fargo & Company MN now owns 329,902 shares of the biopharmaceutical company’s stock worth $2,326,000 after buying an additional 3,550 shares during the period. Virtu KCG Holdings LLC raised its position in Kindred Biosciences by 41.7% in the second quarter. Virtu KCG Holdings LLC now owns 15,285 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 4,495 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Kindred Biosciences by 28.5% in the first quarter. Goldman Sachs Group Inc. now owns 22,336 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 4,954 shares in the last quarter. Acadian Asset Management LLC raised its position in Kindred Biosciences by 51.6% in the first quarter. Acadian Asset Management LLC now owns 29,759 shares of the biopharmaceutical company’s stock worth $210,000 after buying an additional 10,134 shares in the last quarter. Finally, Nationwide Fund Advisors acquired a new position in Kindred Biosciences during the second quarter worth approximately $100,000. 51.91% of the stock is owned by hedge funds and other institutional investors.
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Shares of Kindred Biosciences (NASDAQ KIN) traded up 3.65% on Friday, hitting $7.10. The stock had a trading volume of 113,256 shares. The company’s market cap is $197.64 million. The company has a 50-day moving average of $7.85 and a 200-day moving average of $6.99. Kindred Biosciences has a 52-week low of $3.90 and a 52-week high of $9.65.
Kindred Biosciences (NASDAQ:KIN) last issued its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.04. On average, equities analysts anticipate that Kindred Biosciences will post ($1.27) EPS for the current fiscal year.
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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