Kindred Biosciences (KIN) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Kindred Biosciences (NASDAQ:KIN) from a buy rating to a hold rating in a research note published on Saturday, Zacks.com reports.

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. “

Other equities research analysts also recently issued reports about the stock. BidaskClub upgraded shares of Kindred Biosciences from a strong sell rating to a sell rating in a research note on Tuesday, May 7th. Aegis began coverage on shares of Kindred Biosciences in a research note on Wednesday, April 10th. They set a buy rating and a $16.00 price objective for the company. ValuEngine upgraded shares of Kindred Biosciences from a buy rating to a strong-buy rating in a research note on Friday, April 5th. HC Wainwright reiterated a buy rating and set a $19.00 price objective on shares of Kindred Biosciences in a research note on Thursday, March 7th. Finally, Cantor Fitzgerald reiterated a buy rating and set a $25.00 price objective on shares of Kindred Biosciences in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Kindred Biosciences presently has a consensus rating of Buy and an average price target of $17.11.

KIN opened at $8.29 on Friday. 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 has a 52-week low of $8.04 and a 52-week high of $15.75. The company has a market cap of $318.71 million, a price-to-earnings ratio of -5.18 and a beta of 0.37.

Kindred Biosciences (NASDAQ:KIN) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.01). The business had revenue of $0.52 million for the quarter, compared to the consensus estimate of $1.95 million. On average, research analysts predict that Kindred Biosciences will post -1.45 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of KIN. Bank of New York Mellon Corp lifted its holdings in shares of Kindred Biosciences by 24.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 90,847 shares of the biopharmaceutical company’s stock valued at $1,267,000 after buying an additional 17,798 shares during the period. BlackRock Inc. raised 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 worth $25,520,000 after purchasing an additional 504,246 shares during the period. MetLife Investment Advisors LLC raised its holdings in Kindred Biosciences by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 21,274 shares of the biopharmaceutical company’s stock worth $297,000 after purchasing an additional 7,563 shares during the period. Teachers Advisors LLC raised its holdings in Kindred Biosciences by 28.6% in the 3rd quarter. Teachers Advisors LLC now owns 57,607 shares of the biopharmaceutical company’s stock worth $804,000 after purchasing an additional 12,810 shares during the period. Finally, TIAA CREF Investment Management LLC raised its holdings in Kindred Biosciences by 20.3% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 63,918 shares of the biopharmaceutical company’s stock worth $892,000 after purchasing an additional 10,799 shares during the period. 56.44% of the stock is currently owned by institutional investors and hedge funds.

About Kindred Biosciences

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.

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