Wall Street Zen Downgrades Kodiak Sciences (NASDAQ:KOD) to Sell

Kodiak Sciences (NASDAQ:KOD) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts have also recently commented on KOD. JPMorgan Chase & Co. lifted their price target on shares of Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Chardan Capital upgraded shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $61.00 in a report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak Sciences in a research note on Friday, July 10th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.14.

Kodiak Sciences Price Performance

Shares of KOD stock opened at $41.35 on Friday. The stock has a 50-day moving average price of $39.10 and a 200 day moving average price of $35.01. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of -9.87 and a beta of 2.21. Kodiak Sciences has a 12 month low of $8.29 and a 12 month high of $47.84.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.09). Sell-side analysts predict that Kodiak Sciences will post -3.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kodiak Sciences

Several hedge funds have recently added to or reduced their stakes in KOD. BlackRock Inc. bought a new position in Kodiak Sciences during the second quarter worth about $161,113,000. Baker BROS. Advisors LP increased its stake in shares of 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 stake in shares of Kodiak Sciences in the 4th quarter valued at about $57,955,000. Jupiter Topco LLC acquired a new stake in shares of Kodiak Sciences in the 2nd quarter valued at approximately $59,507,000. Finally, RTW Investments LP acquired a new stake in shares of Kodiak Sciences in the 4th quarter valued at approximately $41,603,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

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.