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Fly News Breaks for July 16, 2019
KIN
Jul 16, 2019 | 08:52 EDT
B. Riley FBR analyst Andrew D'Silva downgraded Kindred Biosciences to Neutral from Buy and lowered his price target for the shares to $8.50 from $18. Zimeta IV is now more than one year past when it was initially expected to obtain FDA approval, and is expected to have further delays, D'Silva tells investors in a research note. The analyst believes these delays, coupled with a "much slower ramp" for Mirataz than initially expected, could lead shares to having a "muted response" to favorable data readouts.
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