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

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $42.1429.

A number of equities research analysts recently commented on the stock. HC Wainwright restated a “buy” rating and set a $58.00 price objective (up from $38.00) on shares of Kodiak Sciences in a report on Friday, March 27th. Chardan Capital upgraded shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $61.00 in a report on Monday, May 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Kodiak Sciences in a report on Thursday, January 22nd. UBS Group raised their price objective on shares of Kodiak Sciences from $50.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Finally, Wall Street Zen upgraded shares of Kodiak Sciences from a “sell” rating to a “hold” rating in a report on Saturday.

Institutional Investors Weigh In On Kodiak Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KOD. AQR Capital Management LLC acquired a new stake in Kodiak Sciences in the 1st quarter valued at $188,000. Dynamic Technology Lab Private Ltd acquired a new stake in Kodiak Sciences in the 1st quarter valued at $94,000. Jane Street Group LLC increased its stake in Kodiak Sciences by 441.3% in the 1st quarter. Jane Street Group LLC now owns 64,649 shares of the company’s stock valued at $181,000 after buying an additional 52,705 shares during the last quarter. American Century Companies Inc. increased its stake in Kodiak Sciences by 6.3% in the 2nd quarter. American Century Companies Inc. now owns 79,745 shares of the company’s stock valued at $297,000 after buying an additional 4,703 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in Kodiak Sciences by 190.7% in the 2nd quarter. Federated Hermes Inc. now owns 244,231 shares of the company’s stock valued at $911,000 after buying an additional 160,225 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Kodiak Sciences Stock Down 4.3%

Shares of NASDAQ KOD opened at $37.02 on Friday. Kodiak Sciences has a twelve month low of $3.13 and a twelve month high of $47.84. The company’s fifty day moving average is $36.42 and its 200-day moving average is $28.43. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of -8.88 and a beta of 2.32.

Kodiak Sciences (NASDAQ:KOD) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.01). On average, research analysts anticipate that Kodiak Sciences will post -3.89 EPS for the current fiscal year.

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.