Cantor Fitzgerald analyst Brandon Folkes maintained a Buy rating on Kindred Biosciences (NASDAQ: KIN) today and set a price target of $20. The company’s shares closed yesterday at $14.05.
Folkes commented:
“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 $20 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 $20 price target.”
According to TipRanks.com, Folkes is a 2-star analyst with an average return of 1.1% and a 45.7% 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 $17.33.
See today’s analyst top recommended stocks >>
Based on Kindred Biosciences’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $11.24 million. In comparison, last year the company had a GAAP net loss of $6.77 million.
Based on the recent corporate insider activity of 17 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.
