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

Kodiak Sciences Inc. (NASDAQ:KOD) has been given an average rating of “Moderate Buy” by the eight research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $42.1429.

A number of equities research analysts have recently weighed in on KOD shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak Sciences in a research note on Friday, July 10th. Chardan Capital upgraded Kodiak Sciences from a “neutral” rating to a “buy” rating and raised their target price for the company from $14.00 to $61.00 in a report on Monday, May 11th. Finally, Wall Street Zen raised Kodiak Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Baker BROS. Advisors LP lifted its holdings in Kodiak Sciences by 15.1% during the 4th quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company’s stock worth $556,940,000 after buying an additional 2,608,696 shares in the last quarter. Braidwell LP purchased a new position in Kodiak Sciences in the fourth quarter valued at $57,955,000. RTW Investments LP purchased a new position in Kodiak Sciences in the fourth quarter valued at approximately $41,603,000. Janus Henderson Group PLC acquired a new position in Kodiak Sciences in the fourth quarter valued at $27,950,000. Finally, Goldman Sachs Group Inc. grew its stake in Kodiak Sciences by 298.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,303,030 shares of the company’s stock worth $36,433,000 after buying an additional 976,254 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Stock Performance

Kodiak Sciences stock opened at $40.01 on Thursday. Kodiak Sciences has a fifty-two week low of $6.21 and a fifty-two week high of $47.84. The firm has a 50 day moving average price of $37.33 and a 200 day moving average price of $33.71. The company has a market capitalization of $2.50 billion, a PE ratio of -9.59 and a beta of 2.19.

Kodiak Sciences (NASDAQ:KOD) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.01). As a group, equities research analysts forecast that Kodiak Sciences will post -3.78 earnings per share for the current 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.