Cantor Fitzgerald Believes Kindred Biosciences (KIN) Still Has Room to Grow


In a report released today, Brandon Folkes from Cantor Fitzgerald reiterated a Buy rating on Kindred Biosciences (NASDAQ: KIN), with a price target of $20. The company’s shares opened today at $13.80, close to its 52-week high of $14.30.

Folkes said:

“. Post 2Q18, we reiterate our Overweight rating and a 12- month price target of $20. We believe KIN’s pipeline of novel animal health drugs will drive long-term shareholder value beyond levels currently reflected in the stock. As KIN advances its pipeline, investors should begin to appreciate the peak revenue potential of the products the company brings to market. Kindred has one approved product, Mirataz, and expects the approval of Zimeta IV later this year or early next year, with two approvals a year thereafter. We expect upward earnings revisions, multiple expansion, and pipeline advancements to drive the stock higher.”

According to TipRanks.com, Folkes is a 1-star analyst with an average return of 0.2% and a 45.2% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Opiant Pharmaceuticals Inc, and Eagle Pharmaceuticals Inc.

Currently, the analyst consensus on Kindred Biosciences is a Strong Buy with an average price target of $16, which is a 15.9% upside from current levels. In a report issued on August 7, B.Riley FBR also reiterated a Buy rating on the stock with a $16 price target.

.

See today’s analyst top recommended stocks >>

Based on Kindred Biosciences’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $9.97 million. In comparison, last year the company had a GAAP net loss of $6.77 million.

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts