Kindred Biosciences Inc (KIN) Stock Rating Reaffirmed by BMO Capital Markets

Kindred Biosciences Inc (NASDAQ:KIN)‘s stock had its “hold” rating reaffirmed by research analysts at BMO Capital Markets in a report released on Friday, May 5th. They currently have a $8.00 target price on the biopharmaceutical company’s stock. BMO Capital Markets’ price objective points to a potential upside of 14.29% from the company’s current price.

Shares of Kindred Biosciences (NASDAQ:KIN) remained flat at $7.00 during midday trading on Friday. The company’s stock had a trading volume of 112,064 shares. The firm has a 50-day moving average price of $7.01 and a 200 day moving average price of $5.95. The firm’s market capitalization is $163.17 million. Kindred Biosciences has a 1-year low of $3.25 and a 1-year high of $7.55.

Kindred Biosciences (NASDAQ:KIN) last issued its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.04. On average, analysts expect that Kindred Biosciences will post ($1.40) earnings per share for the current fiscal year.

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In other Kindred Biosciences news, major shareholder Park West Asset Management Llc bought 18,066 shares of Kindred Biosciences stock in a transaction on Thursday, March 9th. The shares were purchased at an average price of $6.08 per share, with a total value of $109,841.28. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders acquired 577,342 shares of company stock worth $3,835,050. Company insiders own 19.10% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Kindred Biosciences during the first quarter valued at about $102,000. Goldman Sachs Group Inc. raised its position in shares of Kindred Biosciences by 28.5% in the first quarter. Goldman Sachs Group Inc. now owns 22,336 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 4,954 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Kindred Biosciences by 51.6% in the first quarter. Acadian Asset Management LLC now owns 29,759 shares of the biopharmaceutical company’s stock valued at $210,000 after buying an additional 10,134 shares in the last quarter. UBS Group AG raised its position in shares of Kindred Biosciences by 152.7% in the first quarter. UBS Group AG now owns 65,217 shares of the biopharmaceutical company’s stock valued at $460,000 after buying an additional 39,411 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Kindred Biosciences by 6.3% in the first quarter. Geode Capital Management LLC now owns 69,025 shares of the biopharmaceutical company’s stock valued at $486,000 after buying an additional 4,081 shares in the last quarter. 66.01% of the stock is currently owned by institutional investors.

Kindred Biosciences Company Profile

Kindred Biosciences, Inc is a development-stage biopharmaceutical company. The Company is focused on developing therapies for pets. The Company’s product pipeline consists of small molecules and biologics for a range of indications in dogs, cats and horses. The Company is developing product candidates for over 20 indications and focused on small molecule products and canine and feline biologics products.

12 Month Chart for NASDAQ:KIN

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