Shares of Kindred Biosciences Inc (NASDAQ:KIN) have received a consensus recommendation of “Buy” from the ten research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $20.44.
A number of equities research analysts have recently commented on the stock. HC Wainwright set a $19.00 price objective on shares of Kindred Biosciences and gave the stock a “buy” rating in a research note on Thursday, November 8th. B. Riley raised their price objective on shares of Kindred Biosciences from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, November 8th. Cantor Fitzgerald set a $25.00 price objective on shares of Kindred Biosciences and gave the stock a “buy” rating in a research note on Monday, December 3rd. BidaskClub raised shares of Kindred Biosciences from a “hold” rating to a “buy” rating in a research note on Tuesday, November 27th. Finally, Zacks Investment Research cut shares of Kindred Biosciences from a “hold” rating to a “sell” rating in a research note on Tuesday, November 13th.
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Shares of NASDAQ KIN traded up $0.36 during midday trading on Friday, reaching $10.83. 677,801 shares of the stock were exchanged, compared to its average volume of 235,594. The stock has a market capitalization of $367.28 million, a price-to-earnings ratio of -8.80 and a beta of 0.65. Kindred Biosciences has a twelve month low of $8.05 and a twelve month high of $15.75.
In related news, major shareholder Park West Asset Management Llc purchased 741,840 shares of the company’s stock in a transaction that occurred on Friday, January 18th. The shares were purchased at an average price of $9.50 per share, with a total value of $7,047,480.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Richard Chin sold 40,000 shares of Kindred Biosciences stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $10.57, for a total transaction of $422,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,906,071 shares in the company, 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 company insiders.
A number of institutional investors have recently added to or reduced their stakes in KIN. BlackRock Inc. lifted its holdings in Kindred Biosciences by 38.1% in the 3rd quarter. BlackRock Inc. now owns 1,829,393 shares of the biopharmaceutical company’s stock valued at $25,520,000 after purchasing an additional 504,246 shares in the last quarter. Allianz Asset Management GmbH purchased a new position in Kindred Biosciences in the 3rd quarter valued at $3,501,000. Assenagon Asset Management S.A. purchased a new position in Kindred Biosciences in the 4th quarter valued at $1,861,000. Renaissance Technologies LLC lifted its holdings in 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 in the last quarter. Finally, EAM Global Investors LLC purchased a new position in Kindred Biosciences in the 3rd quarter valued at $1,350,000. 67.08% of the stock is currently owned by hedge funds and other institutional investors.
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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