$1.44 Million in Sales Expected for Kindred Biosciences Inc (KIN) This Quarter

Equities research analysts predict that Kindred Biosciences Inc (NASDAQ:KIN) will post sales of $1.44 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Kindred Biosciences’ earnings. The lowest sales estimate is $1.30 million and the highest is $1.58 million. The firm is expected to report its next quarterly earnings report on Thursday, March 7th.

On average, analysts expect that Kindred Biosciences will report full year sales of $2.06 million for the current fiscal year, with estimates ranging from $1.90 million to $2.22 million. For the next year, analysts forecast that the business will report sales of $17.34 million, with estimates ranging from $14.40 million to $20.28 million. Zacks’ sales averages are an average based on a survey of analysts that follow Kindred Biosciences.

Kindred Biosciences (NASDAQ:KIN) last released its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. The business had revenue of $0.64 million during the quarter.

KIN has been the subject of several research analyst reports. HC Wainwright restated a “buy” rating and set a $16.00 price objective on shares of Kindred Biosciences in a research report on Monday, August 13th. B. Riley boosted their price objective on shares of Kindred Biosciences from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, November 8th. Cantor Fitzgerald restated a “buy” rating and set a $25.00 price objective (up from $20.00) on shares of Kindred Biosciences in a research report on Wednesday, October 31st. Finally, BidaskClub upgraded shares of Kindred Biosciences from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $19.35.

In other Kindred Biosciences news, CEO Richard Chin sold 40,000 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $14.68, for a total transaction of $587,200.00. Following the sale, the chief executive officer now owns 1,986,071 shares of the company’s stock, valued at $29,155,522.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Raymond Townsend sold 3,000 shares of the business’s stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $13.32, for a total transaction of $39,960.00. Following the sale, the director now directly owns 27,813 shares in the company, valued at approximately $370,469.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 123,000 shares of company stock valued at $1,689,560. Company insiders own 15.96% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of KIN. Trexquant Investment LP bought a new stake in shares of Kindred Biosciences during the second quarter worth $235,000. Schwab Charles Investment Management Inc. grew its stake in shares of Kindred Biosciences by 35.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 56,979 shares of the biopharmaceutical company’s stock worth $607,000 after purchasing an additional 14,879 shares during the last quarter. BlackRock Inc. grew its stake in shares of Kindred Biosciences by 20.1% in the second quarter. BlackRock Inc. now owns 1,325,147 shares of the biopharmaceutical company’s stock worth $14,114,000 after purchasing an additional 221,578 shares during the last quarter. Ariel Investments LLC grew its stake in shares of Kindred Biosciences by 25.9% in the second quarter. Ariel Investments LLC now owns 2,218,612 shares of the biopharmaceutical company’s stock worth $23,628,000 after purchasing an additional 456,783 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Kindred Biosciences in the second quarter worth $218,000. 66.43% of the stock is currently owned by hedge funds and other institutional investors.

KIN traded down $0.39 during trading on Tuesday, hitting $12.16. 89,701 shares of the stock traded hands, compared to its average volume of 114,856. Kindred Biosciences has a twelve month low of $7.55 and a twelve month high of $15.75. The company has a market cap of $412.38 million, a P/E ratio of -9.89 and a beta of 0.23.

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.

Featured Story: What is an SEC Filing?

Get a free copy of the Zacks research report on Kindred Biosciences (KIN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Kindred Biosciences (NASDAQ:KIN)

Receive News & Ratings for Kindred Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kindred Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply