Kindred Biosciences Inc (NASDAQ:KIN) Expected to Post Quarterly Sales of $1.97 Million

Analysts expect Kindred Biosciences Inc (NASDAQ:KIN) to report $1.97 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Kindred Biosciences’ earnings, with estimates ranging from $600,000.00 to $2.95 million. The business is scheduled to issue its next quarterly earnings results on Thursday, August 8th.

According to Zacks, analysts expect that Kindred Biosciences will report full year sales of $9.35 million for the current year, with estimates ranging from $2.80 million to $13.18 million. For the next year, analysts forecast that the company will post sales of $21.27 million, with estimates ranging from $8.00 million to $30.97 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Kindred Biosciences.

Kindred Biosciences (NASDAQ:KIN) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.01). The business had revenue of $0.52 million for the quarter, compared to the consensus estimate of $1.95 million.

Several equities research analysts have commented on KIN shares. Cantor Fitzgerald set a $25.00 price target on shares of Kindred Biosciences and gave the company a “buy” rating in a research note on Friday, April 26th. ValuEngine lowered shares of Kindred Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 11th. HC Wainwright restated a “buy” rating and issued a $19.00 price target on shares of Kindred Biosciences in a research note on Thursday, March 7th. Lake Street Capital dropped their price target on shares of Kindred Biosciences from $30.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. Finally, BidaskClub upgraded shares of Kindred Biosciences from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $15.67.

Shares of NASDAQ:KIN opened at $8.33 on Friday. The company has a 50 day moving average price of $8.29. Kindred Biosciences has a 52 week low of $7.56 and a 52 week high of $15.75. The firm has a market capitalization of $322.18 million, a price-to-earnings ratio of -5.21 and a beta of 0.44. The company has a quick ratio of 8.70, a current ratio of 9.10 and a debt-to-equity ratio of 0.01.

Several hedge funds and other institutional investors have recently bought and sold shares of KIN. Meeder Asset Management Inc. grew its position in Kindred Biosciences by 16.7% in the first quarter. Meeder Asset Management Inc. now owns 11,922 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 1,706 shares during the last quarter. Rhumbline Advisers grew its position in Kindred Biosciences by 8.7% in the first quarter. Rhumbline Advisers now owns 43,318 shares of the biopharmaceutical company’s stock worth $397,000 after buying an additional 3,477 shares during the last quarter. Deutsche Bank AG grew its position in Kindred Biosciences by 6.1% in the fourth quarter. Deutsche Bank AG now owns 67,700 shares of the biopharmaceutical company’s stock worth $740,000 after buying an additional 3,919 shares during the last quarter. Teton Advisors Inc. grew its position in Kindred Biosciences by 30.8% in the first quarter. Teton Advisors Inc. now owns 17,000 shares of the biopharmaceutical company’s stock worth $156,000 after buying an additional 4,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Kindred Biosciences by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 339,644 shares of the biopharmaceutical company’s stock worth $3,719,000 after buying an additional 5,233 shares during the last quarter. Institutional investors and hedge funds own 65.18% of the company’s stock.

About Kindred Biosciences

Kindred Biosciences, Inc, a commercial-stage biopharmaceutical company, focusing on developing therapies for pets. Its product pipeline consists of small molecules and biologics for a range of indications in dogs, cats, and horses. The company offers Mirataz, a mirtazapine transdermal ointment for the management of weight loss in cats.

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Earnings History and Estimates for Kindred Biosciences (NASDAQ:KIN)

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