Kodiak Sciences Inc. (NASDAQ:KOD) Receives $42.14 Average PT from Brokerages

Kodiak Sciences Inc. (NASDAQ:KOD) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $42.1429.

Several research firms have recently issued reports on KOD. HC Wainwright reiterated a “buy” rating and issued a $58.00 price objective (up from $38.00) on shares of Kodiak Sciences in a report on Friday, March 27th. Chardan Capital raised Kodiak Sciences from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $61.00 in a report on Monday, May 11th. Wall Street Zen upgraded Kodiak Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, UBS Group increased their price target on Kodiak Sciences from $50.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, March 27th.

Institutional Trading of Kodiak Sciences

Several institutional investors have recently modified their holdings of KOD. Baker BROS. Advisors LP lifted its holdings in Kodiak Sciences by 15.1% in the 4th quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company’s stock valued at $556,940,000 after acquiring an additional 2,608,696 shares during the last quarter. Braidwell LP bought a new position in shares of Kodiak Sciences during the 4th quarter valued at about $57,955,000. RTW Investments LP acquired a new position in shares of Kodiak Sciences in the 4th quarter worth approximately $41,603,000. Janus Henderson Group PLC acquired a new position in shares of Kodiak Sciences in the 4th quarter worth approximately $27,950,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Kodiak Sciences by 298.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,303,030 shares of the company’s stock worth $36,433,000 after purchasing an additional 976,254 shares in the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

Kodiak Sciences Trading Up 3.1%

KOD stock traded up $1.23 during trading on Friday, hitting $41.31. The company had a trading volume of 996,376 shares, compared to its average volume of 807,066. The business has a 50 day moving average of $36.86 and a 200 day moving average of $32.42. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -9.91 and a beta of 2.19. Kodiak Sciences has a fifty-two week low of $4.32 and a fifty-two week high of $47.84.

Kodiak Sciences (NASDAQ:KOD) last released its earnings results on Thursday, May 7th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.93) by ($0.01). As a group, equities analysts predict that Kodiak Sciences will post -3.89 EPS for the current year.

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.