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

H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on Kindred Biosciences (KINResearch Report) today and set a price target of $9.00. The company’s shares closed last Wednesday at $3.75, close to its 52-week low of $3.11.

According to TipRanks.com, Ramakanth is a 3-star analyst with an average return of 1.9% and a 36.5% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals, Corvus Pharmaceuticals, and Cellectar Biosciences.

Kindred Biosciences has an analyst consensus of Strong Buy, with a price target consensus of $10.00, a 180.9% upside from current levels. In a report issued on July 28, Cantor Fitzgerald also maintained a Buy rating on the stock with a $11.00 price target.

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The company has a one-year high of $11.93 and a one-year low of $3.11. Currently, Kindred Biosciences has an average volume of 417K.

Based on the recent corporate insider activity of 8 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.

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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.