Kindred Biosciences (KIN) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Kindred Biosciences (NASDAQ:KIN) from a hold rating to a buy rating in a research note released on Thursday, Zacks.com reports. The brokerage currently has $10.00 price objective on the biopharmaceutical company’s stock.

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 weighed in on KIN. BidaskClub downgraded shares of Kindred Biosciences from a sell rating to a strong sell rating in a research note on Thursday, April 18th. Cantor Fitzgerald reaffirmed a buy rating and issued a $25.00 price target on shares of Kindred Biosciences in a research note on Tuesday, March 5th. ValuEngine raised shares of Kindred Biosciences from a buy rating to a strong-buy rating in a research note on Friday, April 5th. Lake Street Capital dropped their price target on shares of Kindred Biosciences from $30.00 to $12.00 and set a buy rating on the stock in a research note on Thursday, March 7th. Finally, HC Wainwright reissued a buy rating and set a $19.00 target price on shares of Kindred Biosciences in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. Kindred Biosciences currently has a consensus rating of Buy and an average target price of $17.11.

NASDAQ KIN opened at $8.40 on Thursday. Kindred Biosciences has a 1-year low of $8.04 and a 1-year high of $15.75. The company has a quick ratio of 8.70, a current ratio of 9.10 and a debt-to-equity ratio of 0.01.

Kindred Biosciences (NASDAQ:KIN) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($0.01). The firm had revenue of $0.52 million for the quarter, compared to analyst estimates of $1.95 million. As a group, research analysts predict that Kindred Biosciences will post -1.45 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Park West Asset Management LLC increased its position in Kindred Biosciences by 12.4% during the first quarter. Park West Asset Management LLC now owns 6,743,893 shares of the biopharmaceutical company’s stock worth $61,841,000 after buying an additional 741,840 shares during the last quarter. Morgan Stanley increased its position in Kindred Biosciences by 0.3% during the third quarter. Morgan Stanley now owns 2,168,559 shares of the biopharmaceutical company’s stock worth $30,251,000 after buying an additional 7,438 shares during the last quarter. BlackRock Inc. increased its position in Kindred Biosciences by 6.7% during the first quarter. BlackRock Inc. now owns 1,967,848 shares of the biopharmaceutical company’s stock worth $18,045,000 after buying an additional 124,329 shares during the last quarter. Vanguard Group Inc. increased its position in Kindred Biosciences by 6.0% during the third quarter. Vanguard Group Inc. now owns 1,410,014 shares of the biopharmaceutical company’s stock worth $19,669,000 after buying an additional 80,023 shares during the last quarter. Finally, Vanguard Group Inc increased its position in Kindred Biosciences by 6.0% during the third quarter. Vanguard Group Inc now owns 1,410,014 shares of the biopharmaceutical company’s stock worth $19,669,000 after buying an additional 80,023 shares during the last quarter. 56.44% of the stock is currently owned by hedge funds and other institutional investors.

Kindred Biosciences Company Profile

Kindred Biosciences, Inc, a commercial-stage biopharmaceutical company, focusing on developing therapies for pets. Its product pipeline consists of small molecules and biologics for a range of indications in dogs, cats, and horses. The company offers Mirataz, a mirtazapine transdermal ointment for the management of weight loss in cats.

Read More: How does new data get added to a blockchain?

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

Analyst Recommendations 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.