Weekly Investment Analysts’ Ratings Changes for Kindred Biosciences (KIN)

Kindred Biosciences (NASDAQ: KIN) recently received a number of ratings updates from brokerages and research firms:

  • 3/13/2019 – Kindred Biosciences was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 3/11/2019 – Kindred Biosciences was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating.
  • 3/7/2019 – Kindred Biosciences had its price target lowered by analysts at Lake Street Capital from $30.00 to $12.00. They now have a “buy” rating on the stock.
  • 3/7/2019 – Kindred Biosciences had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $19.00 price target on the stock. They wrote, “We maintain our Buy rating of KIN and our 12-month price target of $19.00 per share. We derive our price target based on a risk-adjusted net present value analysis of projected product revenues through 2027 assuming a 10% discount rate and 3% terminal growth rate. We derive an rNPV of $603M for the pipeline products and add in $120M in pro forma cash and cash equivalents to arrive at a 12-month price target of $18.74 per diluted share, which we round to $19.00. Risks: (1) clinical and regulatory; (2) commercial; (3) partnership; (4) financial; and (5) intellectual property.””
  • 3/6/2019 – Kindred Biosciences was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Kindred Biosciences is a development-stage biopharmaceutical company focused on saving and improving the lives of pets. Its mission is to bring to pets the same kinds of safe and effective medicines that human family members enjoy. The Company’s strategy is to identify compounds and targets that have already demonstrated safety and efficacy in humans and to develop therapeutics based on these validated compounds and targets for dogs, cats and horses. The Company has a deep pipeline of novel drugs and biologics in development across many therapeutic classes. “
  • 3/5/2019 – Kindred Biosciences had its “buy” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $25.00 price target on the stock. They wrote, “We believe KIN’s pipeline of novel animal health drugs will drive long-term shareholder value. As KIN advances its pipeline, we think investors should begin to appreciate the peak revenue potential of the products the company brings to market. Valuation Summary We use a blend of DCF and EV/EBITDA to arrive at our $25 price target. The Disclosure Section may be found on pages 3 – 4.Valuation We use a blend of DCF and EV/EBITDA to arrive at our $25 price target.””
  • 2/28/2019 – Kindred Biosciences was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Kindred Biosciences is a development-stage biopharmaceutical company focused on saving and improving the lives of pets. Its mission is to bring to pets the same kinds of safe and effective medicines that human family members enjoy. The Company’s strategy is to identify compounds and targets that have already demonstrated safety and efficacy in humans and to develop therapeutics based on these validated compounds and targets for dogs, cats and horses. The Company has a deep pipeline of novel drugs and biologics in development across many therapeutic classes. “
  • 2/7/2019 – Kindred Biosciences was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Kindred Biosciences is a development-stage biopharmaceutical company focused on saving and improving the lives of pets. Its mission is to bring to pets the same kinds of safe and effective medicines that human family members enjoy. The Company’s strategy is to identify compounds and targets that have already demonstrated safety and efficacy in humans and to develop therapeutics based on these validated compounds and targets for dogs, cats and horses. The Company has a deep pipeline of novel drugs and biologics in development across many therapeutic classes. “
  • 1/19/2019 – Kindred Biosciences was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 1/18/2019 – Kindred Biosciences was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Kindred Biosciences is a development-stage biopharmaceutical company focused on saving and improving the lives of pets. Its mission is to bring to pets the same kinds of safe and effective medicines that human family members enjoy. The Company’s strategy is to identify compounds and targets that have already demonstrated safety and efficacy in humans and to develop therapeutics based on these validated compounds and targets for dogs, cats and horses. The Company has a deep pipeline of novel drugs and biologics in development across many therapeutic classes. “
  • 1/14/2019 – Kindred Biosciences was given a new $25.00 price target on by analysts at Cantor Fitzgerald. They now have a “buy” rating on the stock.
  • 1/14/2019 – Kindred Biosciences had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $19.00 price target on the stock. They wrote, “We maintain our Buy rating of KIN and our 12-month price target of $19.00 per share. We derive our price target based on a risk-adjusted net present value analysis of projected product revenues through 2027 assuming a 10% discount rate and 3% terminal growth rate. We derive an rNPV of $605M for the pipeline products and add in $92M in cash and cash equivalents to arrive at a 12-month price target of $18.53 per diluted share, which we round to $19.00.””

KIN stock opened at $9.11 on Friday. The stock has a market capitalization of $357.86 million, a PE ratio of -5.69 and a beta of 0.42. Kindred Biosciences Inc has a 12 month low of $8.05 and a 12 month high of $15.75.

Kindred Biosciences (NASDAQ:KIN) last posted its earnings results on Wednesday, March 6th. The biopharmaceutical company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). The firm had revenue of $1.33 million for the quarter, compared to analysts’ expectations of $1.44 million. On average, equities research analysts forecast that Kindred Biosciences Inc will post -1.54 EPS for the current fiscal year.

In other Kindred Biosciences news, major shareholder Park West Asset Management Llc acquired 741,840 shares of the company’s stock in a transaction that occurred on Friday, January 18th. The stock was acquired at an average price of $9.50 per share, for a total transaction of $7,047,480.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard Chin sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $10.57, for a total transaction of $422,800.00. Following the completion of the transaction, the chief executive officer now owns 1,906,071 shares of the company’s stock, valued at approximately $20,147,170.47. The disclosure for this sale can be found here. 15.96% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc raised its holdings in Kindred Biosciences by 24.6% during the 3rd quarter. Legal & General Group Plc now owns 4,659 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 920 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in Kindred Biosciences by 362.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,647 shares of the biopharmaceutical company’s stock worth $106,000 after purchasing an additional 7,563 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in Kindred Biosciences by 17.5% during the 4th quarter. Meeder Asset Management Inc. now owns 10,216 shares of the biopharmaceutical company’s stock worth $111,000 after purchasing an additional 1,518 shares during the last quarter. Grassi Investment Management bought a new position in Kindred Biosciences during the 4th quarter worth approximately $126,000. Finally, Teton Advisors Inc. bought a new position in Kindred Biosciences during the 4th quarter worth approximately $142,000. Hedge funds and other institutional investors own 65.11% of the company’s stock.

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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