Kindred Biosciences, Inc. (NASDAQ:KIN) Receives Consensus Recommendation of “Buy” from Analysts

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.

Analyst Recommendations for Kindred Biosciences (NASDAQ:KIN)

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