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.
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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