Kodiak Sciences Inc. (NASDAQ:KOD) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) have been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $26.5714.

Several research analysts recently issued reports on KOD shares. UBS Group assumed coverage on shares of Kodiak Sciences in a research report on Wednesday. They issued a “buy” rating and a $50.00 price target for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Kodiak Sciences in a research note on Wednesday, October 8th. Jefferies Financial Group started coverage on Kodiak Sciences in a report on Monday, September 22nd. They issued a “buy” rating and a $15.00 target price for the company. Wall Street Zen lowered Kodiak Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Finally, Barclays upgraded Kodiak Sciences from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $7.00 to $17.00 in a research report on Thursday, September 25th.

Kodiak Sciences Price Performance

KOD opened at $27.72 on Friday. The company has a market capitalization of $1.47 billion, a P/E ratio of -6.73 and a beta of 2.67. The firm’s fifty day moving average price is $23.65 and its two-hundred day moving average price is $14.89. Kodiak Sciences has a fifty-two week low of $1.92 and a fifty-two week high of $31.18.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.09). On average, equities research analysts expect that Kodiak Sciences will post -3.45 EPS for the current fiscal year.

Insider Buying and Selling at Kodiak Sciences

In other news, Director Bros. Advisors Lp Baker bought 2,608,696 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was acquired at an average price of $23.00 per share, for a total transaction of $60,000,008.00. Following the transaction, the director directly owned 18,358,772 shares of the company’s stock, valued at $422,251,756. This trade represents a 16.56% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 45.90% of the company’s stock.

Hedge Funds Weigh In On Kodiak Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its stake in Kodiak Sciences by 89.4% during the third quarter. BNP Paribas Financial Markets now owns 6,373 shares of the company’s stock worth $104,000 after buying an additional 3,009 shares during the last quarter. Diversified Trust Co. acquired a new position in shares of Kodiak Sciences in the 4th quarter worth approximately $219,000. Headlands Technologies LLC grew its position in Kodiak Sciences by 256.4% during the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock worth $30,000 after acquiring an additional 5,815 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Kodiak Sciences during the 3rd quarter worth approximately $204,000. Finally, SG Americas Securities LLC acquired a new stake in Kodiak Sciences during the 3rd quarter valued at $228,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Kodiak Sciences Company Profile

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.