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

By Ryan Adsit

In a report released today, Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on Kindred Biosciences (KINResearch Report), with a price target of $19. The company’s shares closed on Friday at $11.52.

Ramakanth wrote:

“We maintain our Buy rating of KIN and our 12-month price target of $19.00 per share. We derive our price target based on a risk-adjusted net present value analysis of projected product revenues through 2027 assuming a 10% discount rate and 3% terminal growth rate. We derive an rNPV of $605M for the pipeline products and add in $92M in cash and cash equivalents to arrive at a 12-month price target of $18.53 per diluted share, which we round to $19.00.”

According to TipRanks.com, Ramakanth ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -5.8% and a 30.2% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Collplant Holdings Ltd.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Kindred Biosciences with a $21.67 average price target.

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Based on Kindred Biosciences’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $13.04 million. In comparison, last year the company had a GAAP net loss of $9.73 million.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KIN in relation to earlier this year. Most recently, in October 2018, Ernest Mario, a Director at KIN bought 44,833 shares for a total of $152,941.

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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.