Cantor Fitzgerald analyst Brandon Folkes reiterated a Buy rating on Kindred Biosciences (KIN) yesterday and set a price target of $25. The company’s shares closed yesterday at $8.97, close to its 52-week low of $8.04.
Folkes commented:
“. Post 1Q19, we reiterate our Overweight rating and 12-month price target of $25. We believe KIN’s pipeline of novel animal health drugs will drive long-term shareholder value beyond levels reflected in the current stock price. As KIN advances its pipeline, investors should begin to appreciate the durability and peak revenue potential of the products the company brings to market. In today’s press release and on the call, the company laid out concrete timelines for significant data readouts for the highest-value candidates in KIN’s pipeline. KIN’s pipeline holds significant value that we believe will be unlocked through these date-certain value inflection points.”
According to TipRanks.com, Folkes is a 1-star analyst with an average return of -1.9% and a 33.7% 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.
