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.
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.
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