Kindred Biosciences (NASDAQ:KIN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, March 7th.
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. “
A number of other research firms also recently commented on KIN. B. Riley set a $11.00 target price on shares of Kindred Biosciences and gave the company a “buy” rating in a research report on Tuesday, December 5th. ValuEngine downgraded shares of Kindred Biosciences from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Aegis reiterated a “buy” rating on shares of Kindred Biosciences in a research note on Friday, December 15th. CL King assumed coverage on shares of Kindred Biosciences in a research note on Wednesday, December 27th. They issued a “neutral” rating for the company. Finally, BMO Capital Markets restated a “hold” rating on shares of Kindred Biosciences in a research note on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $9.79.
Kindred Biosciences (NASDAQ:KIN) last released its earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.02). analysts expect that Kindred Biosciences will post -1.5 earnings per share for the current year.
In related news, Director Raymond Townsend sold 6,419 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $9.45, for a total value of $60,659.55. Following the completion of the sale, the director now owns 18,419 shares of the company’s stock, valued at approximately $174,059.55. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 19.10% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. boosted its position in shares of Kindred Biosciences by 18.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 42,100 shares of the biopharmaceutical company’s stock valued at $398,000 after acquiring an additional 6,600 shares during the last quarter. Wells Fargo & Company MN lifted its position in Kindred Biosciences by 2.2% in the third quarter. Wells Fargo & Company MN now owns 337,608 shares of the biopharmaceutical company’s stock valued at $2,650,000 after buying an additional 7,206 shares during the last quarter. Prudential Financial Inc. lifted its position in Kindred Biosciences by 18.9% in the third quarter. Prudential Financial Inc. now owns 52,920 shares of the biopharmaceutical company’s stock valued at $415,000 after buying an additional 8,410 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Kindred Biosciences by 12.1% in the fourth quarter. Bank of New York Mellon Corp now owns 83,543 shares of the biopharmaceutical company’s stock valued at $789,000 after buying an additional 8,995 shares during the last quarter. Finally, Nationwide Fund Advisors acquired a new position in Kindred Biosciences in the second quarter valued at about $100,000. 64.36% of the stock is currently owned by hedge funds and other institutional investors.
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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