Kindred Biosciences Inc (KIN) Given Consensus Rating of “Buy” by Analysts
Kindred Biosciences Inc (NASDAQ:KIN) has received a consensus recommendation of “Buy” from the twelve research firms that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $17.19.
KIN has been the subject of several research reports. B. Riley boosted their price objective on shares of Kindred Biosciences from $12.50 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, August 7th. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Kindred Biosciences in a research note on Monday, August 13th. Zacks Investment Research upgraded shares of Kindred Biosciences from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, July 25th. CL King upgraded shares of Kindred Biosciences from a “neutral” rating to a “buy” rating in a research note on Monday, July 9th. Finally, Lake Street Capital initiated coverage on shares of Kindred Biosciences in a research note on Monday, July 23rd. They issued a “buy” rating for the company.
KIN stock traded down $0.25 on Wednesday, hitting $13.35. 2,000 shares of the company were exchanged, compared to its average volume of 196,175. Kindred Biosciences has a twelve month low of $6.80 and a twelve month high of $15.75. The firm has a market capitalization of $469.82 million, a price-to-earnings ratio of -11.02 and a beta of 0.32.
In other Kindred Biosciences news, insider Richard Chin sold 40,000 shares of the stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $13.51, for a total transaction of $540,400.00. Following the sale, the insider now directly owns 2,106,071 shares of the company’s stock, valued at $28,453,019.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Park West Asset Management Llc acquired 845,262 shares of the company’s stock in a transaction that occurred on Wednesday, June 20th. The stock was purchased at an average cost of $9.50 per share, for a total transaction of $8,029,989.00. The disclosure for this purchase can be found here. Insiders have sold 120,000 shares of company stock worth $1,543,200 over the last three months. 15.96% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in 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 buying an additional 5,587 shares in the last quarter. Bank of America Corp DE grew its position in Kindred Biosciences by 30.4% in the 2nd quarter. Bank of America Corp DE now owns 29,460 shares of the biopharmaceutical company’s stock valued at $314,000 after buying an additional 6,860 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Kindred Biosciences by 764.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,671 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 8,552 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new position in Kindred Biosciences in the 2nd quarter valued at about $103,000. Finally, Paloma Partners Management Co bought a new position in Kindred Biosciences in the 2nd quarter valued at about $119,000. 62.59% of the stock is currently owned by institutional investors and hedge funds.
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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