Kindred Biosciences upgraded to Outperform from Market Perform at BMO Capital BMO Capital upgraded Kindred based on increased expectations for the AtoKin product which recently entered Phase 3. The firm now believes AtoKin will be mover competitive with Apoquel and that it can reach $95M-$100M peak sales by 2020-2023. Price target raised to $30 from $15.
News For KIN From The Last 14 Days
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Kindred Biosciences price target lowered to $19 from $30 at BMO Capital BMO Capital cut its price target on Kindred after the company announced that its pivotal study of CereKin for the treatment of osteoarthritis in dogs did not meet its primary endpoint. However, the firm thinks that each of two other trials that the company is undertaking has a 70% chance of succeeding. The firm believes that the company has many more shots on goal, and it keeps an Outperform rating on the shares.