Kindred Biosciences (NASDAQ:KIN) has been assigned a $16.00 price objective by HC Wainwright in a report issued on Wednesday, October 31st. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 24.71% from the company’s previous close.
A number of other analysts have also recently weighed in on the stock. Lake Street Capital initiated coverage on shares of Kindred Biosciences in a report on Monday, July 23rd. They set a “buy” rating on the stock. Cantor Fitzgerald reissued a “buy” rating and set a $20.00 price objective on shares of Kindred Biosciences in a report on Thursday, August 9th. LADENBURG THALM/SH SH cut shares of Kindred Biosciences from a “buy” rating to a “neutral” rating in a report on Tuesday, August 7th. B. Riley boosted their price objective on shares of Kindred Biosciences from $12.50 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Finally, BidaskClub upgraded shares of Kindred Biosciences from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $19.35.
Shares of NASDAQ KIN traded up $0.19 during midday trading on Wednesday, hitting $12.83. The company’s stock had a trading volume of 70,531 shares, compared to its average volume of 185,451. Kindred Biosciences has a 1 year low of $7.30 and a 1 year high of $15.75. The firm has a market cap of $428.66 million, a price-to-earnings ratio of -10.43 and a beta of 0.25.
Kindred Biosciences (NASDAQ:KIN) last issued its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. The firm had revenue of $0.64 million during the quarter. As a group, analysts forecast that Kindred Biosciences will post -1.59 EPS for the current fiscal year.
In related news, Director Raymond Townsend sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $13.32, for a total transaction of $39,960.00. Following the transaction, the director now directly owns 27,813 shares in the company, valued at $370,469.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard Chin sold 40,000 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $14.79, for a total value of $591,600.00. Following the transaction, the insider now owns 2,073,671 shares in the company, valued at $30,669,594.09. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 123,000 shares of company stock worth $1,749,960. 15.96% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Ariel Investments LLC grew its holdings in Kindred Biosciences by 25.9% during the second quarter. Ariel Investments LLC now owns 2,218,612 shares of the biopharmaceutical company’s stock worth $23,628,000 after acquiring an additional 456,783 shares during the period. Morgan Stanley grew its holdings in Kindred Biosciences by 0.3% during the third quarter. Morgan Stanley now owns 2,168,559 shares of the biopharmaceutical company’s stock worth $30,251,000 after acquiring an additional 7,438 shares during the period. BlackRock Inc. grew its holdings in Kindred Biosciences by 38.1% during the third quarter. BlackRock Inc. now owns 1,829,393 shares of the biopharmaceutical company’s stock worth $25,520,000 after acquiring an additional 504,246 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Kindred Biosciences by 0.4% in 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 purchasing an additional 5,587 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Kindred Biosciences by 11.1% in the 3rd quarter. Renaissance Technologies LLC now owns 1,053,800 shares of the biopharmaceutical company’s stock valued at $14,701,000 after purchasing an additional 105,100 shares during the period. 66.03% of the stock is currently owned by institutional investors.
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.
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