Kindred Biosciences (NASDAQ:KIN) Releases Earnings Results, Misses Estimates By $0.01 EPS

Kindred Biosciences (NASDAQ:KIN) announced its earnings results on Thursday. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.01), Bloomberg Earnings reports. The company had revenue of $1.24 million during the quarter, compared to analysts’ expectations of $1.97 million. Kindred Biosciences had a negative return on equity of 55.87% and a negative net margin of 1,583.00%.

KIN traded up $0.71 during trading hours on Friday, reaching $7.67. 255,471 shares of the company’s stock traded hands, compared to its average volume of 277,274. The company’s 50-day moving average price is $7.65. Kindred Biosciences has a 52-week low of $5.96 and a 52-week high of $15.75. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.10 and a quick ratio of 8.70. The firm has a market capitalization of $271.48 million, a price-to-earnings ratio of -4.79 and a beta of 0.38.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. boosted its holdings in Kindred Biosciences by 16.7% during the 1st quarter. Meeder Asset Management Inc. now owns 11,922 shares of the biopharmaceutical company’s stock valued at $109,000 after acquiring an additional 1,706 shares during the period. Rhumbline Advisers raised its position in Kindred Biosciences by 8.7% during the 1st quarter. Rhumbline Advisers now owns 43,318 shares of the biopharmaceutical company’s stock valued at $397,000 after purchasing an additional 3,477 shares in the last quarter. Deutsche Bank AG raised its position in Kindred Biosciences by 6.1% during the 4th quarter. Deutsche Bank AG now owns 67,700 shares of the biopharmaceutical company’s stock valued at $740,000 after purchasing an additional 3,919 shares in the last quarter. Teton Advisors Inc. raised its position in Kindred Biosciences by 30.8% during the 1st quarter. Teton Advisors Inc. now owns 17,000 shares of the biopharmaceutical company’s stock valued at $156,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Kindred Biosciences by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 339,644 shares of the biopharmaceutical company’s stock valued at $3,719,000 after purchasing an additional 5,233 shares in the last quarter. Institutional investors own 65.14% of the company’s stock.

A number of brokerages have recently commented on KIN. Zacks Investment Research cut Kindred Biosciences from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. Stifel Nicolaus began coverage on Kindred Biosciences in a report on Wednesday, May 22nd. They issued a “buy” rating and a $14.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $19.00 target price on shares of Kindred Biosciences in a report on Wednesday. Barclays began coverage on Kindred Biosciences in a report on Tuesday, June 11th. They issued an “overweight” rating and a $13.00 target price for the company. Finally, B. Riley cut Kindred Biosciences from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $8.50 in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Kindred Biosciences presently has an average rating of “Buy” and an average price target of $14.28.

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.

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Earnings History for Kindred Biosciences (NASDAQ:KIN)

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