Zacks: Analysts Anticipate Kindred Biosciences Inc (KIN) to Post -$0.40 Earnings Per Share

Equities research analysts expect Kindred Biosciences Inc (NASDAQ:KIN) to report earnings of ($0.40) per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Kindred Biosciences’ earnings, with estimates ranging from ($0.42) to ($0.38). Kindred Biosciences posted earnings of ($0.29) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 37.9%. The firm is expected to issue its next quarterly earnings report on Tuesday, November 6th.

On average, analysts expect that Kindred Biosciences will report full year earnings of ($1.51) per share for the current fiscal year, with EPS estimates ranging from ($1.56) to ($1.44). For the next financial year, analysts anticipate that the company will post earnings of ($1.22) per share, with EPS estimates ranging from ($1.37) to ($1.04). Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Kindred Biosciences.

Kindred Biosciences (NASDAQ:KIN) last released its earnings results on Thursday, August 9th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.01).

Several brokerages have recently issued reports on KIN. HC Wainwright reissued a “buy” rating and set a $16.00 price target on shares of Kindred Biosciences in a report on Monday, August 13th. Zacks Investment Research raised shares of Kindred Biosciences from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Wednesday, July 25th. LADENBURG THALM/SH SH downgraded shares of Kindred Biosciences from a “buy” rating to a “neutral” rating in a report on Tuesday, August 7th. Lake Street Capital began coverage on shares of Kindred Biosciences in a report on Monday, July 23rd. They set a “buy” rating for the company. Finally, BidaskClub downgraded shares of Kindred Biosciences from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 11th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Kindred Biosciences presently has an average rating of “Buy” and an average price target of $16.75.

In related news, major shareholder Park West Asset Management Llc acquired 845,262 shares of Kindred Biosciences stock in a transaction that occurred on Wednesday, June 20th. The stock was acquired at an average price of $9.50 per share, with a total value of $8,029,989.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard Chin sold 40,000 shares of the company’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $13.51, for a total transaction of $540,400.00. Following the completion of the sale, the insider now directly owns 2,106,071 shares of the company’s stock, valued at approximately $28,453,019.21. The disclosure for this sale can be found here. Insiders sold 120,000 shares of company stock valued at $1,543,200 in the last ninety days. Corporate insiders own 15.96% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of KIN. New York State Common Retirement Fund lifted its holdings in Kindred Biosciences by 6.2% in the 1st quarter. New York State Common Retirement Fund now owns 243,249 shares of the biopharmaceutical company’s stock valued at $2,104,000 after acquiring an additional 14,285 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Kindred Biosciences by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,365,002 shares of the biopharmaceutical company’s stock valued at $11,807,000 after acquiring an additional 5,587 shares during the last quarter. Citigroup Inc. lifted its holdings in Kindred Biosciences by 2,575.3% in the 1st quarter. Citigroup Inc. now owns 31,007 shares of the biopharmaceutical company’s stock valued at $268,000 after acquiring an additional 29,848 shares during the last quarter. Sit Investment Associates Inc. acquired a new stake in Kindred Biosciences in the 2nd quarter valued at about $752,000. Finally, Trexquant Investment LP acquired a new stake in Kindred Biosciences in the 2nd quarter valued at about $235,000. 62.59% of the stock is owned by institutional investors.

Shares of KIN traded down $0.15 during midday trading on Tuesday, hitting $13.60. 69,116 shares of the stock traded hands, compared to its average volume of 196,175. Kindred Biosciences has a 1-year low of $6.80 and a 1-year high of $15.75. The company has a market cap of $469.82 million, a price-to-earnings ratio of -11.06 and a beta of 0.32.

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.

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