Kindred Biosciences (NASDAQ:KIN) had its price objective upped by stock analysts at B. Riley from $16.00 to $21.00 in a research report issued on Thursday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. B. Riley’s price objective would indicate a potential upside of 56.72% from the company’s previous close.
Several other analysts have also weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $16.00 target price on shares of Kindred Biosciences in a report on Monday, August 13th. BidaskClub lowered Kindred Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Zacks Investment Research lowered Kindred Biosciences from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. Cantor Fitzgerald reissued a “buy” rating and issued a $20.00 target price on shares of Kindred Biosciences in a report on Thursday, August 9th. Finally, Lake Street Capital started coverage on Kindred Biosciences in a report on Monday, July 23rd. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $19.35.
KIN stock traded down $0.64 on Thursday, reaching $13.40. 135,164 shares of the company’s stock were exchanged, compared to its average volume of 257,542. Kindred Biosciences has a twelve month low of $6.95 and a twelve month high of $15.75. The firm has a market capitalization of $493.14 million, a PE ratio of -10.89 and a beta of 0.25.
In other news, insider Richard Chin sold 40,000 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $13.28, for a total value of $531,200.00. Following the sale, the insider now directly owns 2,026,071 shares in the company, valued at $26,906,222.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Raymond Townsend sold 3,000 shares of the company’s stock in a transaction on Wednesday, September 26th. The shares were sold at an average price of $13.32, for a total value of $39,960.00. Following the completion of the sale, the director now owns 27,813 shares in the company, valued at $370,469.16. The disclosure for this sale can be found here. Insiders sold 123,000 shares of company stock worth $1,749,960 over the last 90 days. Company insiders own 15.96% of the company’s stock.
Large investors have recently modified their holdings of the company. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Kindred Biosciences in the second quarter valued at $103,000. Tower Research Capital LLC TRC lifted its position in Kindred Biosciences by 764.3% during the second quarter. Tower Research Capital LLC TRC now owns 9,671 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 8,552 shares during the period. Paloma Partners Management Co purchased a new position in Kindred Biosciences during the second quarter worth about $119,000. Meeder Asset Management Inc. lifted its position in Kindred Biosciences by 90.1% during the third quarter. Meeder Asset Management Inc. now owns 8,698 shares of the biopharmaceutical company’s stock worth $122,000 after buying an additional 4,122 shares during the period. Finally, MetLife Investment Advisors LLC purchased a new position in Kindred Biosciences during the second quarter worth about $146,000. Institutional investors and hedge funds own 62.23% of the company’s stock.
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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