H.C. Wainwright Thinks Kindred Biosciences’ Stock is Going to Recover


In a report released today, Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on Kindred Biosciences (KIN), with a price target of $9.00. The company’s shares closed last Monday at $3.77, close to its 52-week low of $3.11.

According to TipRanks.com, Ramakanth is a 4-star analyst with an average return of 3.8% and a 36.8% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals, Corvus Pharmaceuticals, and Cellectar Biosciences.

Currently, the analyst consensus on Kindred Biosciences is a Moderate Buy with an average price target of $9.00.

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Based on Kindred Biosciences’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $39.57 million and net profit of $24.05 million. In comparison, last year the company earned revenue of $1.24 million and had a GAAP net loss of $14.31 million.

Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KIN in relation to earlier this year. Last month, Denise Bevers, a Director at KIN sold 12,508 shares for a total of $62,540.

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.

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