Look for publications in the journal in which you will publish the article.
How many models have been applied in articles, do as much.
Generally, 4-5 models are sufficient. If you apply too many models, you can have the study published as two articles. Here is an example:
Modeling of adsorption isotherms of phenol and chlorophenols onto granular activated carbon: Part I. Two-parameter models and equations allowing determination of thermodynamic parameters
Modeling of adsorption isotherms of phenol and chlorophenols onto granular activated carbon. Part II. Models with more than two parameters.
The kinetic models can be fitted to the % release data in order to find out what exactly the mechanism of drug release is. It is true that 60% of release data is sufficient and considered as ideal for fitting such models, however alternatively if there exists a confusion up to what % you have to consider it, you can use the value of Mt/Meq versus time data to fit the models where Mt is the absorbance at time t whereas Meq is the absorbance at equilibrium time.