Several other equities analysts also recently commented on the company. B. Riley upped their price objective on Kindred Biosciences from $12.50 to $16.00 and gave the company a buy rating in a research note on Tuesday, August 7th. HC Wainwright reiterated a buy rating and issued a $16.00 price objective on shares of Kindred Biosciences in a research note on Monday, August 13th. Zacks Investment Research upgraded Kindred Biosciences from a hold rating to a buy rating and set a $15.00 price objective on the stock in a research note on Wednesday, July 25th. CL King upgraded Kindred Biosciences from a neutral rating to a buy rating in a research note on Monday, July 9th. Finally, Lake Street Capital initiated coverage on Kindred Biosciences in a research note on Monday, July 23rd. They issued a buy rating on the stock. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $16.75.
Kindred Biosciences stock opened at $13.60 on Wednesday. Kindred Biosciences has a 12 month low of $6.80 and a 12 month high of $15.75. The company has a market capitalization of $469.82 million, a P/E ratio of -11.06 and a beta of 0.32.
In other Kindred Biosciences news, insider Richard Chin sold 40,000 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $14.79, for a total transaction of $591,600.00. Following the sale, the insider now owns 2,073,671 shares of the company’s stock, valued at approximately $30,669,594.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Park West Asset Management Llc bought 845,262 shares of the stock in a transaction on Wednesday, June 20th. The shares were acquired at an average cost of $9.50 per share, for a total transaction of $8,029,989.00. The disclosure for this purchase can be found here. Insiders have sold a total of 120,000 shares of company stock worth $1,543,200 in the last three months. Insiders own 15.96% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Granahan Investment Management Inc. MA raised its holdings in Kindred Biosciences by 92.9% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 318,741 shares of the biopharmaceutical company’s stock valued at $3,395,000 after acquiring an additional 153,479 shares during the period. MetLife Investment Advisors LLC bought a new position in shares of Kindred Biosciences in the second quarter worth $146,000. Metropolitan Life Insurance Co. NY bought a new position in shares of Kindred Biosciences in the second quarter worth $103,000. Tower Research Capital LLC TRC increased its holdings in shares of Kindred Biosciences by 764.3% in the second quarter. Tower Research Capital LLC TRC now owns 9,671 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 8,552 shares during the period. Finally, Paloma Partners Management Co bought a new position in shares of Kindred Biosciences in the second quarter worth $119,000. 62.59% of the stock is currently owned by institutional investors and hedge funds.
Kindred Biosciences Company Profile
Kindred Biosciences, Inc, a biopharmaceutical company, focuses on the development of therapies for pets. The company's product pipeline includes small molecules and biologics for a range of indications in dogs, cats, and horses. Its lead product candidates comprise Zimeta, a dipyrone injection for the control of pyrexia (fever) in horses; and Mirataz, a mirtazapine transdermal ointment for the management of weight loss in cats.
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