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Fly News Breaks for May 9, 2018
KIN
May 9, 2018 | 07:35 EDT
H.C. Wainwright analyst Swayampakula Ramakanth raised his price target for Kindred Biosciences to $12 saying approval of Mirataz validates the company's business model. This is the first approved drug coming from the Kindred's therapeutic pipeline, Ramakanth tells investors in a research note. The approval not only provides Kindred with a "substantial" revenue stream, but also signals the success of its business model of repurposing human drug for the veterinarian use, the analyst contends. He keeps a Buy rating on Kindred Biosciences.
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