B.Riley FBR analyst Andrew D’silva maintained a Hold rating on Kindred Biosciences (KIN) yesterday and set a price target of $8.50. The company’s shares closed yesterday at $6.96, close to its 52-week low of $5.96.
D’silva noted:
“Kindred (KIN) reported 2Q19 results and posted a top line/EPS of $1.2M/ $(0.37), vs. our/consensus estimates of $0.9M/$(0.41) and $1.2M/($0.38). Revenue was generated through the sale of Mirataz, which was commercially launched on 7/9/18. The EPS beat relative to our estimate was primarily due to opex coming in $1.2M below our $17.0M estimate.”
According to TipRanks.com, D’silva is a 4-star analyst with an average return of 5.3% and a 40.9% success rate. D’silva covers the Healthcare sector, focusing on stocks such as Cumberland Pharmaceuticals Inc, EyePoint Pharmaceuticals Inc, and Sensus Healthcare Inc.
Currently, the analyst consensus on Kindred Biosciences is a Strong Buy with an average price target of $15.08.
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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.
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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.
