Kindred Biosciences (KIN) Coverage Initiated at EuroPacific Canada

Investment analysts at EuroPacific Canada began coverage on shares of Kindred Biosciences (NASDAQ:KIN) in a note issued to investors on Wednesday. The firm set a “buy” rating and a $16.75 price target on the biopharmaceutical company’s stock. EuroPacific Canada’s target price would suggest a potential upside of 72.68% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Kindred Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 12th. HC Wainwright upped their price objective on shares of Kindred Biosciences to $12.00 and gave the company a “buy” rating in a report on Wednesday, May 9th. ValuEngine upgraded shares of Kindred Biosciences from a “hold” rating to a “buy” rating in a report on Tuesday, April 17th. Finally, BidaskClub upgraded shares of Kindred Biosciences from a “hold” rating to a “buy” rating in a report on Saturday, April 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $11.42.

Kindred Biosciences traded up $0.10, hitting $9.70, during midday trading on Wednesday, MarketBeat reports. The stock had a trading volume of 1,998 shares, compared to its average volume of 136,379. The firm has a market cap of $272.16 million, a price-to-earnings ratio of -7.93 and a beta of 0.08. Kindred Biosciences has a 1-year low of $6.55 and a 1-year high of $10.15.

Kindred Biosciences (NASDAQ:KIN) last released its earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.36). equities analysts anticipate that Kindred Biosciences will post -1.53 earnings per share for the current year.

In other news, insider Richard Chin sold 20,000 shares of the business’s stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $9.05, for a total transaction of $181,000.00. Following the completion of the sale, the insider now directly owns 2,246,071 shares of the company’s stock, valued at $20,326,942.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Raymond Townsend sold 2,670 shares of the business’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $9.45, for a total transaction of $25,231.50. Following the sale, the director now directly owns 25,057 shares of the company’s stock, valued at $236,788.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,821 shares of company stock valued at $435,528. 15.96% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the company. Citigroup Inc. increased its position in shares of Kindred Biosciences by 2,575.3% during the first quarter. Citigroup Inc. now owns 31,007 shares of the biopharmaceutical company’s stock worth $268,000 after acquiring an additional 29,848 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Kindred Biosciences by 18.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 42,100 shares of the biopharmaceutical company’s stock worth $398,000 after acquiring an additional 6,600 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Kindred Biosciences by 12.1% during the fourth quarter. Bank of New York Mellon Corp now owns 83,543 shares of the biopharmaceutical company’s stock worth $789,000 after acquiring an additional 8,995 shares in the last quarter. B. Riley Financial Inc. bought a new stake in shares of Kindred Biosciences during the first quarter worth about $1,120,000. Finally, New York State Common Retirement Fund increased its position in shares of Kindred Biosciences by 6.2% during the first quarter. New York State Common Retirement Fund now owns 243,249 shares of the biopharmaceutical company’s stock worth $2,104,000 after acquiring an additional 14,285 shares in the last quarter. 62.42% of the stock is 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.

Analyst Recommendations for Kindred Biosciences (NASDAQ:KIN)

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