In a report released today, Brandon Folkes from Cantor Fitzgerald maintained a Buy rating on Kindred Biosciences (KIN), with a price target of $25. The company’s shares opened today at $8.96, close to its 52-week low of $8.04.
Folkes said:
“We believe KIN’s pipeline of novel animal health drugs will drive long-term shareholder value. As KIN advances its pipeline, we think investors should begin to appreciate the peak revenue potential of the products the company brings to market. Valuation Summary We use a blend of DCF and EV/EBITDA to arrive at our $25 price target. The Disclosure Section may be found on pages 3 – 5.Valuation We use a blend of DCF and EV/EBITDA to arrive at our $25 price target.”
According to TipRanks.com, Folkes is a 1-star analyst with an average return of -0.5% and a 35.4% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Eagle Pharmaceuticals Inc, and Collegium Pharmaceutical.
Currently, the analyst consensus on Kindred Biosciences is a Strong Buy with an average price target of $19.50.
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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 $15.44 million. In comparison, last year the company had a GAAP net loss of $9.97 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.
