Kindred Biosciences (NASDAQ:KIN) Shares Up 5.7%

Shares of Kindred Biosciences Inc (NASDAQ:KIN) shot up 5.7% during trading on Wednesday . The stock traded as high as $7.94 and last traded at $7.80, 186,100 shares were traded during trading. A decline of 9% from the average session volume of 205,437 shares. The stock had previously closed at $7.38.

Several research firms recently commented on KIN. Stifel Nicolaus began coverage on shares of Kindred Biosciences in a research note on Wednesday, May 22nd. They set a “buy” rating and a $14.00 target price for the company. BidaskClub upgraded shares of Kindred Biosciences from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. Zacks Investment Research upgraded shares of Kindred Biosciences from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Cantor Fitzgerald set a $25.00 price target on shares of Kindred Biosciences and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, ValuEngine upgraded shares of Kindred Biosciences from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $14.28.

The company has a current ratio of 11.36, a quick ratio of 10.79 and a debt-to-equity ratio of 0.01. The firm has a market cap of $280.07 million, a PE ratio of -4.48 and a beta of 0.38. The company’s 50-day moving average is $7.28 and its 200 day moving average is $8.63.



Kindred Biosciences (NASDAQ:KIN) last issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.01). The firm had revenue of $1.24 million during the quarter, compared to analysts’ expectations of $1.97 million. Kindred Biosciences had a negative net margin of 1,583.00% and a negative return on equity of 55.46%. On average, research analysts predict that Kindred Biosciences Inc will post -1.52 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in KIN. PARK CIRCLE Co acquired a new position in Kindred Biosciences in the 2nd quarter valued at approximately $27,000. Bank of Montreal Can increased its stake in Kindred Biosciences by 2,368.3% in the 2nd quarter. Bank of Montreal Can now owns 3,505 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 3,363 shares during the period. Marshall Wace LLP acquired a new position in Kindred Biosciences in the 1st quarter valued at approximately $53,000. BNP Paribas Arbitrage SA increased its stake in Kindred Biosciences by 83,433.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,518 shares of the biopharmaceutical company’s stock valued at $69,000 after buying an additional 7,509 shares during the period. Finally, Gabelli Funds LLC acquired a new position in Kindred Biosciences in the 2nd quarter valued at approximately $108,000. Hedge funds and other institutional investors own 66.60% of the company’s stock.

About Kindred Biosciences (NASDAQ:KIN)

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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