Zacks Investment Research upgraded shares of Kindred Biosciences (NASDAQ:KIN) from a sell rating to a hold rating in a research report sent to investors on Tuesday 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. “
KIN has been the subject of a number of other reports. EuroPacific Canada initiated coverage on Kindred Biosciences in a research report on Wednesday, May 23rd. They set a buy rating and a $16.75 price objective for the company. BidaskClub raised Kindred Biosciences from a sell rating to a hold rating in a research report on Saturday, March 3rd. ValuEngine raised Kindred Biosciences from a buy rating to a strong-buy rating in a research report on Saturday, June 2nd. Finally, HC Wainwright set a $11.00 price objective on Kindred Biosciences and gave the stock a buy rating in a research report on Friday, March 2nd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Kindred Biosciences has a consensus rating of Buy and an average price target of $12.00.
Shares of KIN opened at $10.65 on Tuesday. Kindred Biosciences has a 52-week low of $6.55 and a 52-week high of $12.00.
Kindred Biosciences (NASDAQ:KIN) last issued its quarterly earnings data on Tuesday, May 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.36). research analysts predict that Kindred Biosciences will post -1.53 EPS for the current fiscal year.
In other news, major shareholder Park West Asset Management Llc bought 845,262 shares of the stock in a transaction that occurred on Wednesday, June 20th. The stock was bought at an average cost of $9.50 per share, for a total transaction of $8,029,989.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Richard Chin sold 3,060 shares of the firm’s stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $10.00, for a total value of $30,600.00. Following the transaction, the insider now owns 2,241,681 shares of the company’s stock, valued at $22,416,810. The disclosure for this sale can be found here. Insiders have sold a total of 101,730 shares of company stock valued at $971,337 over the last three months. Corporate insiders own 15.96% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in Kindred Biosciences by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,365,002 shares of the biopharmaceutical company’s stock valued at $11,807,000 after acquiring an additional 5,587 shares during the period. BlackRock Inc. boosted its holdings in Kindred Biosciences by 4.0% during the 4th quarter. BlackRock Inc. now owns 1,115,709 shares of the biopharmaceutical company’s stock valued at $10,544,000 after acquiring an additional 42,777 shares during the period. Wells Fargo & Company MN boosted its holdings in Kindred Biosciences by 8.6% during the 4th quarter. Wells Fargo & Company MN now owns 366,735 shares of the biopharmaceutical company’s stock valued at $3,465,000 after acquiring an additional 29,127 shares during the period. New York State Common Retirement Fund boosted its holdings in Kindred Biosciences by 6.2% during the 1st quarter. New York State Common Retirement Fund now owns 243,249 shares of the biopharmaceutical company’s stock valued at $2,104,000 after acquiring an additional 14,285 shares during the period. Finally, B. Riley Financial Inc. purchased a new position in Kindred Biosciences during the 1st quarter valued at about $1,120,000. Institutional investors own 62.62% of the company’s stock.
Kindred Biosciences Company Profile
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.
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