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

Shares of Kindred Biosciences, Inc. (NASDAQ:KIN) have received a consensus rating of “Buy” from the seven analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $8.56.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research cut Kindred Biosciences from a “buy” rating to a “hold” rating in a 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 report on Monday, May 15th. ValuEngine raised Kindred Biosciences from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Aegis assumed coverage on Kindred Biosciences in a report on Friday, June 16th. They issued a “buy” rating and a $10.50 price target for the company. Finally, FBR & Co assumed coverage on Kindred Biosciences in a report on Wednesday, May 24th. They issued an “outperform” rating and a $10.00 price target for the company.

Kindred Biosciences (NASDAQ:KIN) traded down 2.04% on Tuesday, reaching $7.20. The company had a trading volume of 106,605 shares. Kindred Biosciences has a 52-week low of $3.86 and a 52-week high of $9.65. The company’s market capitalization is $167.83 million. The company’s 50-day moving average is $7.87 and its 200-day moving average is $6.98.

Kindred Biosciences (NASDAQ:KIN) last released its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.04. Equities analysts anticipate that Kindred Biosciences will post ($1.31) EPS for the current fiscal year.

In other Kindred Biosciences news, major shareholder Park West Asset Management Llc bought 15,311 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was purchased at an average cost of $6.65 per share, for a total transaction of $101,818.15. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard Chin sold 13,000 shares of the company’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 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. Insiders purchased 770,387 shares of company stock valued at $5,660,987 over the last quarter. Insiders own 19.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. acquired a new position in Kindred Biosciences during the second quarter valued at approximately $306,000. Trexquant Investment LP purchased a new stake in Kindred Biosciences during the second quarter worth about $120,000. Goldman Sachs Group Inc. increased its stake 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 during the period. Park West Asset Management LLC increased its stake in Kindred Biosciences by 120.5% in the first quarter. Park West Asset Management LLC now owns 4,386,404 shares of the biopharmaceutical company’s stock worth $30,924,000 after buying an additional 2,397,320 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Kindred Biosciences by 43.6% in the first quarter. Renaissance Technologies LLC now owns 504,800 shares of the biopharmaceutical company’s stock worth $3,559,000 after buying an additional 153,200 shares during the period. Hedge funds and other institutional investors own 51.91% of the company’s stock.

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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.

Analyst Recommendations for Kindred Biosciences (NASDAQ:KIN)

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