Kodiak Sciences Inc. (NASDAQ:KOD) Receives $19.17 Consensus Price Target from Analysts

Kodiak Sciences Inc. (NASDAQ:KOD) has earned an average rating of “Hold” from the seven analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $19.1667.

A number of equities research analysts have recently weighed in on KOD shares. Jefferies Financial Group started coverage on Kodiak Sciences in a report on Monday, September 22nd. They set a “buy” rating and a $15.00 target price for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Kodiak Sciences in a report on Wednesday, October 8th. Barclays raised Kodiak Sciences from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $7.00 to $17.00 in a report on Thursday, September 25th. JPMorgan Chase & Co. raised Kodiak Sciences from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $15.00 to $24.00 in a report on Friday, October 24th. Finally, Chardan Capital reissued a “neutral” rating and set a $14.00 target price on shares of Kodiak Sciences in a report on Monday, October 6th.

Kodiak Sciences Price Performance

Shares of Kodiak Sciences stock opened at $18.56 on Tuesday. The business has a fifty day simple moving average of $13.45 and a two-hundred day simple moving average of $8.10. Kodiak Sciences has a 1 year low of $1.92 and a 1 year high of $21.17. The company has a market capitalization of $980.34 million, a price-to-earnings ratio of -4.88 and a beta of 2.88.

Kodiak Sciences (NASDAQ:KOD) last posted its earnings results on Wednesday, August 13th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.02). As a group, equities analysts anticipate that Kodiak Sciences will post -3.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KOD. Vontobel Holding Ltd. acquired a new position in Kodiak Sciences in the first quarter valued at about $28,000. Federated Hermes Inc. acquired a new position in Kodiak Sciences in the first quarter valued at about $236,000. GSA Capital Partners LLP raised its stake in Kodiak Sciences by 163.6% in the first quarter. GSA Capital Partners LLP now owns 205,833 shares of the company’s stock valued at $577,000 after purchasing an additional 127,748 shares in the last quarter. XTX Topco Ltd acquired a new position in Kodiak Sciences in the first quarter valued at about $126,000. Finally, US Bancorp DE raised its stake in Kodiak Sciences by 131.7% in the first quarter. US Bancorp DE now owns 9,282 shares of the company’s stock valued at $26,000 after purchasing an additional 5,276 shares in the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

About Kodiak Sciences

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, researches, develops, and commercializes therapeutics to treat retinal diseases. Its lead product candidate is tarcocimab tedromer (KSI-301), an anti-vascular endothelial growth factor antibody biopolymer that is in Phase IIb/III clinical study to treat wet age-related macular degeneration (AMD), as well as Phase III clinical study for the treatment of diabetic macular edema, naïve macular edema due to retinal vein occlusion, and non-proliferative diabetic retinopathy.