Kindred Biosciences (NASDAQ:KIN)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research note issued to investors on Thursday. They presently have a $19.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 98.33% from the company’s current price.
The analysts 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.””
Other equities analysts also recently issued reports about the company. B. Riley lifted their target price on Kindred Biosciences from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, November 8th. Cantor Fitzgerald set a $25.00 target price on Kindred Biosciences and gave the company a “buy” rating in a research report on Monday, January 14th. BidaskClub upgraded Kindred Biosciences from a “hold” rating to a “buy” rating in a research report on Tuesday, November 27th. Finally, Zacks Investment Research upgraded Kindred Biosciences from a “sell” rating to a “hold” rating in a research report on Thursday, February 7th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Kindred Biosciences presently has an average rating of “Buy” and a consensus price target of $18.13.
Kindred Biosciences (NASDAQ:KIN) last released its earnings results on Wednesday, March 6th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.04). The company had revenue of $1.33 million during the quarter, compared to the consensus estimate of $1.44 million. Analysts anticipate that Kindred Biosciences will post -1.44 earnings per share for the current year.
In other news, CEO Richard Chin sold 40,000 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $10.57, for a total value of $422,800.00. Following the transaction, the chief executive officer now directly owns 1,906,071 shares in the company, valued at $20,147,170.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Park West Asset Management Llc acquired 741,840 shares of the stock in a transaction dated 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 disclosure for this purchase can be found here. 15.96% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Morgan Stanley lifted its position in shares of Kindred Biosciences by 0.3% in the third quarter. Morgan Stanley now owns 2,168,559 shares of the biopharmaceutical company’s stock valued at $30,251,000 after acquiring an additional 7,438 shares in the last quarter. BlackRock Inc. lifted its position in shares of Kindred Biosciences by 0.8% in the fourth quarter. BlackRock Inc. now owns 1,843,519 shares of the biopharmaceutical company’s stock valued at $20,187,000 after acquiring an additional 14,126 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Kindred Biosciences by 6.0% in the third quarter. Vanguard Group Inc. now owns 1,410,014 shares of the biopharmaceutical company’s stock valued at $19,669,000 after acquiring an additional 80,023 shares in the last quarter. Vanguard Group Inc lifted its position in shares of Kindred Biosciences by 6.0% in the third quarter. Vanguard Group Inc now owns 1,410,014 shares of the biopharmaceutical company’s stock valued at $19,669,000 after acquiring an additional 80,023 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Kindred Biosciences by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,382,645 shares of the biopharmaceutical company’s stock worth $15,140,000 after buying an additional 32,834 shares in the last quarter. Institutional investors and hedge funds own 66.38% of the company’s stock.
About Kindred Biosciences
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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