Kindred Biosciences (KIN) Stock Rating Lowered by LADENBURG THALM/SH SH

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Kindred Biosciences (NASDAQ:KIN) was downgraded by analysts at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, August 7th, MarketBeat reports.

KIN has been the subject of several other reports. BidaskClub downgraded Kindred Biosciences from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 20th. EuroPacific Canada began coverage on shares of Kindred Biosciences in a research note on Wednesday, May 23rd. They set a “buy” rating and a $16.75 price objective for the company. ValuEngine raised shares of Kindred Biosciences from a “hold” rating to a “buy” rating in a research note on Tuesday, April 17th. HC Wainwright boosted their price objective on shares of Kindred Biosciences to $12.00 and gave the company a “buy” rating in a research note on Wednesday, May 9th. Finally, CL King raised shares of Kindred Biosciences from a “neutral” rating to a “buy” rating in a research note on Monday, July 9th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $16.75.

Shares of NASDAQ:KIN opened at $15.50 on Tuesday. Kindred Biosciences has a 12 month low of $6.55 and a 12 month high of $15.75.

Kindred Biosciences (NASDAQ:KIN) last issued its quarterly earnings data on Thursday, August 9th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.01). equities research analysts anticipate that Kindred Biosciences will post -1.49 earnings per share for the current year.

In related news, insider Richard Chin sold 3,060 shares of the stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $10.00, for a total transaction of $30,600.00. Following the sale, the insider now owns 2,241,681 shares in the company, valued at $22,416,810. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Park West Asset Management Llc purchased 845,262 shares of the company’s stock in a transaction on Wednesday, June 20th. The stock was purchased at an average price of $9.50 per share, for a total transaction of $8,029,989.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 138,070 shares of company stock valued at $1,537,500. 15.96% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the business. Renaissance Technologies LLC increased its stake in shares of Kindred Biosciences by 36.5% in the second quarter. Renaissance Technologies LLC now owns 948,700 shares of the biopharmaceutical company’s stock valued at $10,104,000 after purchasing an additional 253,500 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Kindred Biosciences in the second quarter valued at approximately $218,000. Ariel Investments LLC boosted its holdings in shares of Kindred Biosciences by 25.9% in the second quarter. Ariel Investments LLC now owns 2,218,612 shares of the biopharmaceutical company’s stock valued at $23,628,000 after acquiring an additional 456,783 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Kindred Biosciences by 20.1% in the second quarter. BlackRock Inc. now owns 1,325,147 shares of the biopharmaceutical company’s stock valued at $14,114,000 after acquiring an additional 221,578 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Kindred Biosciences by 35.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 56,979 shares of the biopharmaceutical company’s stock valued at $607,000 after acquiring an additional 14,879 shares in the last quarter. Institutional investors own 62.59% of the company’s stock.

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.

Further Reading: Outstanding Shares

Analyst Recommendations for Kindred Biosciences (NASDAQ:KIN)

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