B. Riley downgraded shares of Kindred Biosciences (NASDAQ:KIN) from a buy rating to a neutral rating in a research note published on Tuesday morning, BenzingaRatingsTable reports. They currently have $8.50 price target on the biopharmaceutical company’s stock, down from their previous price target of $18.00.
KIN has been the subject of a number of other research reports. Guggenheim reiterated a buy rating and issued a $95.00 price objective (up previously from $90.00) on shares of VF in a report on Thursday, May 23rd. Stifel Nicolaus set a $154.00 price target on argenx and gave the stock a buy rating in a report on Wednesday, May 22nd. Cantor Fitzgerald set a $135.00 price target on Zimmer Biomet and gave the stock a buy rating in a report on Friday, April 26th. Zacks Investment Research upgraded Zurich Insurance Group from a sell rating to a hold rating in a report on Saturday, May 18th. Finally, ValuEngine downgraded Zogenix from a strong-buy rating to a buy rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Kindred Biosciences has a consensus rating of Buy and an average price target of $14.28.
Kindred Biosciences stock traded up $0.03 on Tuesday, reaching $6.75. The company’s stock had a trading volume of 3,855 shares, compared to its average volume of 170,069. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.70 and a current ratio of 9.10. The stock has a market capitalization of $268.74 million, a P/E ratio of -4.23 and a beta of 0.45. The company’s fifty day moving average is $8.02. Kindred Biosciences has a twelve month low of $6.62 and a twelve month high of $15.75.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new stake in shares of Kindred Biosciences in the first quarter valued at approximately $53,000. BNP Paribas Arbitrage SA increased its stake in shares of Kindred Biosciences by 83,433.3% during the first quarter. BNP Paribas Arbitrage SA now owns 7,518 shares of the biopharmaceutical company’s stock worth $69,000 after purchasing an additional 7,509 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of Kindred Biosciences by 362.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,647 shares of the biopharmaceutical company’s stock worth $106,000 after purchasing an additional 7,563 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Kindred Biosciences by 16.7% during the first quarter. Meeder Asset Management Inc. now owns 11,922 shares of the biopharmaceutical company’s stock worth $109,000 after purchasing an additional 1,706 shares during the period. Finally, Teton Advisors Inc. increased its stake in shares of Kindred Biosciences by 30.8% during the first quarter. Teton Advisors Inc. now owns 17,000 shares of the biopharmaceutical company’s stock worth $156,000 after purchasing an additional 4,000 shares during the period. 65.14% of the stock is owned by 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.
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