Zacks Investment Research downgraded shares of Kindred Biosciences (NASDAQ:KIN) from a hold rating to a sell rating in a research report report published on Wednesday morning.
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. “
Several other research firms have also recently issued reports on KIN. CL King began coverage on Kindred Biosciences in a research note on Wednesday, December 27th. They set a neutral rating on the stock. ValuEngine cut Kindred Biosciences from a hold rating to a sell rating in a research note on Wednesday, January 3rd. BidaskClub raised Kindred Biosciences from a sell rating to a hold rating in a research note on Saturday, March 3rd. HC Wainwright set a $11.00 price target on Kindred Biosciences and gave the stock a buy rating in a research note on Friday, March 2nd. Finally, BMO Capital Markets reaffirmed a hold rating on shares of Kindred Biosciences in a research note on Friday, December 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $9.79.
Kindred Biosciences (NASDAQ:KIN) last posted its earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.02). sell-side analysts anticipate that Kindred Biosciences will post -1.5 EPS for the current fiscal year.
In related news, Director Raymond Townsend sold 6,419 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $9.45, for a total value of $60,659.55. Following the sale, the director now directly owns 18,419 shares of the company’s stock, valued at $174,059.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 19.10% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Nationwide Fund Advisors bought a new stake in Kindred Biosciences in the second quarter worth $100,000. SG Americas Securities LLC bought a new stake in Kindred Biosciences in the third quarter worth $123,000. The Manufacturers Life Insurance Company boosted its holdings in Kindred Biosciences by 18,470.3% in the second quarter. The Manufacturers Life Insurance Company now owns 18,756 shares of the biopharmaceutical company’s stock worth $161,000 after acquiring an additional 18,655 shares in the last quarter. Trexquant Investment LP boosted its holdings in Kindred Biosciences by 88.6% in the third quarter. Trexquant Investment LP now owns 26,228 shares of the biopharmaceutical company’s stock worth $206,000 after acquiring an additional 12,325 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. bought a new stake in Kindred Biosciences in the second quarter worth $306,000. 64.36% of the stock is currently owned by institutional investors and hedge funds.
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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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