Kindred Biosciences (NASDAQ:KIN) Given New $11.00 Price Target at Cantor Fitzgerald

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Kindred Biosciences (NASDAQ:KIN) had its target price cut by Cantor Fitzgerald from $25.00 to $11.00 in a research report released on Wednesday morning, The Fly reports. They currently have an overweight rating on the biopharmaceutical company’s stock. Cantor Fitzgerald also issued estimates for Kindred Biosciences’ FY2020 earnings at ($1.53) EPS and FY2021 earnings at ($1.10) EPS.

KIN has been the subject of a number of other research reports. Aegis restated a buy rating on shares of Kindred Biosciences in a report on Tuesday, June 2nd. Zacks Investment Research upgraded Kindred Biosciences from a hold rating to a buy rating and set a $4.50 target price for the company in a report on Wednesday, July 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. Kindred Biosciences currently has an average rating of Buy and an average price target of $9.38.

Shares of Kindred Biosciences stock opened at $3.29 on Wednesday. The company has a quick ratio of 5.65, a current ratio of 5.73 and a debt-to-equity ratio of 0.36. The company has a market cap of $129.26 million, a PE ratio of -1.89 and a beta of 1.02. The business has a 50 day moving average of $4.13 and a 200 day moving average of $6.01. Kindred Biosciences has a 52 week low of $3.11 and a 52 week high of $11.93.

Kindred Biosciences (NASDAQ:KIN) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.04). The business had revenue of $0.60 million for the quarter, compared to the consensus estimate of $1.75 million. Kindred Biosciences had a negative net margin of 1,567.56% and a negative return on equity of 72.77%. On average, research analysts anticipate that Kindred Biosciences will post -1.24 earnings per share for the current year.

In related news, major shareholder Park West Asset Management Llc sold 115,136 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $4.71, for a total value of $542,290.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.63% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. UBS Group AG grew its stake in shares of Kindred Biosciences by 5.9% in the second quarter. UBS Group AG now owns 128,885 shares of the biopharmaceutical company’s stock worth $579,000 after acquiring an additional 7,144 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Kindred Biosciences by 10.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 63,446 shares of the biopharmaceutical company’s stock worth $285,000 after acquiring an additional 6,219 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Kindred Biosciences in the second quarter worth $90,000. Geode Capital Management LLC grew its stake in shares of Kindred Biosciences by 14.2% in the first quarter. Geode Capital Management LLC now owns 539,306 shares of the biopharmaceutical company’s stock worth $2,157,000 after acquiring an additional 67,259 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Kindred Biosciences by 155.1% in the first quarter. Deutsche Bank AG now owns 34,289 shares of the biopharmaceutical company’s stock worth $137,000 after acquiring an additional 20,846 shares during the last quarter. 67.54% of the stock is currently owned by institutional investors.

Kindred Biosciences Company Profile

Kindred Biosciences, Inc, a commercial-stage biopharmaceutical company, focusing on developing therapies for pets. Its product pipeline consists of small molecules and biologics for a range of indications in dogs, cats, and horses. The company offers Mirataz, a mirtazapine transdermal ointment for the management of weight loss in cats.

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