Kindred Biosciences (KIN) Receives a Buy from H.C. Wainwright


H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on Kindred Biosciences (KIN) today and set a price target of $17.50. The company’s shares opened today at $7.73.

Ramakanth said:

“We maintain our Buy rating of KIN but lower our 12-month price target to $17.50 per share, down from $19.00. We derive our price target based on a risk-adjusted net present value analysis of projected product revenues through 2030 assuming a 10% discount rate and a 2% terminal growth rate. We derive an rNPV of $779M for the pipeline products and add in $79.6M in cash and cash equivalents to arrive at a 12-month price target of $17.48 per diluted share, which we round to $17.50. Risks: (1) clinical and regulatory; (2) commercial; (3) partnership; (4) financial; and (5) intellectual property.”

According to TipRanks.com, Ramakanth has currently no stars on a ranking scale of 0-5 stars, with an average return of -10.6% and a 29.5% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as IntelGenx Technologies, Gritstone Oncology Inc, and Trillium Therapeutics.

Currently, the analyst consensus on Kindred Biosciences is a Strong Buy with an average price target of $14.83.

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 $16.06 million. In comparison, last year the company had a GAAP net loss of $11.24 million.

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