BidaskClub downgraded shares of Kindred Biosciences (NASDAQ:KIN) from a sell rating to a strong sell rating in a research report released on Wednesday.

KIN has been the subject of several other research reports. ValuEngine downgraded shares of Kindred Biosciences from a strong-buy rating to a buy rating in a research report on Monday, March 11th. Lake Street Capital dropped their target price on shares of Kindred Biosciences from $30.00 to $12.00 and set a buy rating for the company in a research report on Thursday, March 7th. HC Wainwright reissued a buy rating and issued a $19.00 target price on shares of Kindred Biosciences in a research report on Thursday, March 7th. Cantor Fitzgerald set a $25.00 target price on shares of Kindred Biosciences and gave the stock a buy rating in a research report on Monday, December 3rd. Finally, Zacks Investment Research raised shares of Kindred Biosciences from a sell rating to a hold rating in a research report on Thursday, February 7th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Kindred Biosciences presently has a consensus rating of Buy and a consensus price target of $18.13.

Shares of KIN stock opened at $9.17 on Wednesday. Kindred Biosciences has a 12 month low of $8.05 and a 12 month high of $15.75. The firm has a market capitalization of $353.97 million, a price-to-earnings ratio of -5.73 and a beta of 0.42.

Kindred Biosciences (NASDAQ:KIN) last issued its quarterly earnings data on Wednesday, March 6th. The biopharmaceutical company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). The business had revenue of $1.33 million for the quarter, compared to analysts’ expectations of $1.44 million. Equities analysts expect that Kindred Biosciences will post -1.54 earnings per share for the current fiscal year.

In other Kindred Biosciences news, major shareholder Park West Asset Management Llc acquired 741,840 shares of the stock in a transaction that occurred on Friday, January 18th. The stock was acquired at an average price of $9.50 per share, with a total value of $7,047,480.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard Chin sold 40,000 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $10.57, for a total transaction of $422,800.00. Following the sale, the chief executive officer now directly owns 1,906,071 shares of the company’s stock, valued at approximately $20,147,170.47. The disclosure for this sale can be found here. 15.96% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in KIN. Bank of America Corp DE grew its position in shares of Kindred Biosciences by 30.4% during 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 during the last quarter. Northern Trust Corp grew its position in Kindred Biosciences by 8.6% in the 2nd quarter. Northern Trust Corp now owns 288,387 shares of the biopharmaceutical company’s stock worth $3,071,000 after purchasing an additional 22,770 shares during the last quarter. Meeder Asset Management Inc. grew its position in Kindred Biosciences by 90.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 8,698 shares of the biopharmaceutical company’s stock worth $122,000 after purchasing an additional 4,122 shares during the last quarter. Prudential Financial Inc. grew its position in Kindred Biosciences by 13.9% in the 3rd quarter. Prudential Financial Inc. now owns 64,700 shares of the biopharmaceutical company’s stock worth $903,000 after purchasing an additional 7,880 shares during the last quarter. Finally, EAM Investors LLC grew its position in Kindred Biosciences by 120.1% in the 3rd quarter. EAM Investors LLC now owns 140,626 shares of the biopharmaceutical company’s stock worth $1,962,000 after purchasing an additional 76,743 shares during the last quarter. 65.11% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Kindred Biosciences (NASDAQ:KIN)

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