UBS Group Upgrades Kodiak Sciences (NASDAQ:KOD) to “Strong-Buy”

Kodiak Sciences (NASDAQ:KOD) was upgraded by research analysts at UBS Group to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other analysts have also weighed in on the company. HC Wainwright upped their target price on Kodiak Sciences from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Jefferies Financial Group initiated coverage on Kodiak Sciences in a research note on Monday, September 22nd. They set a “buy” rating and a $15.00 price objective for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Kodiak Sciences in a research note on Wednesday, October 8th. Chardan Capital reiterated a “neutral” rating and issued a $14.00 target price on shares of Kodiak Sciences in a report on Monday, November 17th. Finally, Lifesci Capital initiated coverage on shares of Kodiak Sciences in a report on Thursday, October 23rd. They issued an “outperform” rating and a $40.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Kodiak Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $26.57.

Kodiak Sciences Price Performance

NASDAQ:KOD opened at $26.62 on Wednesday. Kodiak Sciences has a 1-year low of $1.92 and a 1-year high of $31.18. The company has a 50-day moving average of $23.46 and a 200 day moving average of $14.65. The firm has a market cap of $1.41 billion, a PE ratio of -6.46 and a beta of 2.67.

Kodiak Sciences (NASDAQ:KOD) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($1.16) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.09). Sell-side analysts anticipate that Kodiak Sciences will post -3.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Kodiak Sciences news, Director Bros. Advisors Lp Baker purchased 2,608,696 shares of the stock in a transaction on Thursday, December 18th. The stock was acquired at an average price of $23.00 per share, with a total value of $60,000,008.00. Following the completion of the acquisition, the director owned 18,358,772 shares in the company, valued at $422,251,756. The trade was a 16.56% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 45.90% of the company’s stock.

Hedge Funds Weigh In On Kodiak Sciences

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in Kodiak Sciences by 89.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,373 shares of the company’s stock worth $104,000 after purchasing an additional 3,009 shares during the last quarter. Headlands Technologies LLC increased its position in shares of Kodiak Sciences by 256.4% in the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock valued at $30,000 after acquiring an additional 5,815 shares during the period. Fox Run Management L.L.C. purchased a new position in Kodiak Sciences in the 3rd quarter worth $204,000. SG Americas Securities LLC acquired a new stake in Kodiak Sciences during the 3rd quarter worth about $228,000. Finally, Vanguard Personalized Indexing Management LLC grew its stake in Kodiak Sciences by 21.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company’s stock valued at $56,000 after purchasing an additional 2,691 shares during the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

About Kodiak Sciences

Kodiak Sciences, Inc is a clinical‐stage biopharmaceutical company headquartered in Palo Alto, California, that focuses on the discovery and development of novel therapies for retinal diseases. The company’s proprietary technology centers on antibody biopolymer conjugates (ABCs), which are designed to extend durability, enhance tissue penetration and improve the safety profile of existing therapeutic modalities. Kodiak’s research and development efforts target conditions such as wet age-related macular degeneration (wet AMD), diabetic macular edema (DME) and other serious ophthalmic disorders.

The lead product candidate in Kodiak’s pipeline is KSI-301, an anti-VEGF antibody biopolymer conjugate administered via intravitreal injection.