In a report released yesterday, Andrew D’silva from B.Riley FBR maintained a Buy rating on Kindred Biosciences (NASDAQ: KIN), with a price target of $11. The company’s shares opened today at $9.70, close to its 52-week high of $10.15.
D’silva wrote:
“We believe the end market provides a meaningful growth opportunity for the company, and obtaining approval validates management’s drug-development strategy while, concomitantly, changing KIN’s complexion with the Street, as more investors/analysts are likely to put increased weight on the company’s pipeline, which includes nearly two dozen other candidates. Admittedly, even our estimates include little upside from early-stage candidates, despite KIN’s pipeline containing offerings with much larger TAMs than Mirataz. As such, we anticipate meaningful upside could exist as the company begins to get more credit for its R&D efforts. Meanwhile, KIN will host its 1Q18 earnings call tomorrow, 5/8, at 4:30 p.m. ET (1:30 p.m. PT). The dial-in and conference ID numbers are and 8967967, respectively.”
According to TipRanks.com, D’silva is a 4-star analyst with an average return of 19.6% and a 56.1% success rate. D’silva covers the Healthcare sector, focusing on stocks such as Cumberland Pharmaceuticals Inc., Cytosorbents Corp, and Cytori Therap.
Kindred Biosciences has an analyst consensus of Moderate Buy, with a price target consensus of $10.75.
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Based on Kindred Biosciences’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $9.73 million. In comparison, last year the company had a GAAP net loss of $6.49 million.
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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.
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