B. Riley Reiterates $11.00 Price Target for Kindred Biosciences (KIN)

Kindred Biosciences (NASDAQ:KIN) received a $11.00 price objective from investment analysts at B. Riley in a research report issued on Tuesday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. B. Riley’s price target would suggest a potential upside of 46.67% from the company’s current price.

Several other brokerages also recently commented on KIN. Zacks Investment Research downgraded shares of Kindred Biosciences from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. HC Wainwright assumed coverage on shares of Kindred Biosciences in a research note on Friday, November 17th. They issued a “buy” rating and a $9.50 target price on the stock. Finally, ValuEngine upgraded shares of Kindred Biosciences from a “sell” rating to a “hold” rating in a report on Friday. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $9.63.

Shares of Kindred Biosciences (NASDAQ:KIN) traded down $0.10 during midday trading on Tuesday, hitting $7.50. 85,800 shares of the company traded hands, compared to its average volume of 144,079. Kindred Biosciences has a 12 month low of $3.90 and a 12 month high of $9.65.

Kindred Biosciences (NASDAQ:KIN) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.04. analysts anticipate that Kindred Biosciences will post -1.18 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Pacific Grove Capital LP bought a new stake in Kindred Biosciences in the third quarter valued at $1,475,000. Granahan Investment Management Inc. MA boosted its holdings in Kindred Biosciences by 35.8% in the third quarter. Granahan Investment Management Inc. MA now owns 86,358 shares of the biopharmaceutical company’s stock valued at $678,000 after acquiring an additional 22,768 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Kindred Biosciences by 2.2% in the third quarter. Wells Fargo & Company MN now owns 337,608 shares of the biopharmaceutical company’s stock valued at $2,650,000 after acquiring an additional 7,206 shares in the last quarter. Trexquant Investment LP boosted its holdings in shares of Kindred Biosciences by 88.6% during the 3rd quarter. Trexquant Investment LP now owns 26,228 shares of the biopharmaceutical company’s stock valued at $206,000 after buying an additional 12,325 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Kindred Biosciences during the 3rd quarter valued at $123,000. Institutional investors and hedge funds own 66.85% of the company’s stock.

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About Kindred Biosciences

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.

Analyst Recommendations for Kindred Biosciences (NASDAQ:KIN)

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