B.Riley FBR analyst Andrew D’silva reiterated a Buy rating on Kindred Biosciences (NASDAQ: KIN) today and set a price target of $16. The company’s shares opened today at $14.50, close to its 52-week high of $15.50.
D’silva wrote:
“Kindred Biosciences, Inc. (KIN) reported 2Q18 results and held a corresponding conference call at 4:30PM ET. KIN posted an EPS of ($0.39), vs. our estimate of ($0.41) and consensus’ ($0.39). The slight EPS beat, relative to our estimate, was primarily due to opex coming in $0.4M below our $12M estimate, due to favorable R&D spending. We continue to believe KIN’s pipeline offers a beneficial risk/reward profile for investors: In our opinion, it has one of the most viable pipelines in our coverage universe, particularly from a commercialization/ approval standpoint. We believe this thesis was strengthened by the recent approval of Mirataz; we think getting the regulatory green light validates KIN’s drug-development strategy, as it obtained FDA approval in less than five years and for under $5M.”
According to TipRanks.com, D’silva is a 5-star analyst with an average return of 25.3% and a 54.4% success rate. D’silva covers the Healthcare sector, focusing on stocks such as Cytori Therapeutics Inc, Oramed Pharmaceuticals, and Sorrento Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Kindred Biosciences with a $16 average price target, implying a 10.3% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $20 price target.
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The company has a one-year high of $15.50 and a one-year low of $6.55. Currently, Kindred Biosciences has an average volume of 196.5K.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KIN in relation to earlier this year.
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Kindred Biosciences, Inc. is a development-stage biopharmaceutical company, which focuses on saving and improving the lives of pets. The company was founded by Richard Chin and Denise M. Bevers on September 25, 2012 and is headquartered in Burlingame, CA.
