Kodiak Sciences (NASDAQ:KOD) Sets New 52-Week High – Still a Buy?

Kodiak Sciences Inc. (NASDAQ:KOD) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $22.64 and last traded at $22.6250, with a volume of 335033 shares. The stock had previously closed at $20.77.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KOD. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kodiak Sciences in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Barclays raised shares of Kodiak Sciences from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $7.00 to $17.00 in a report on Thursday, September 25th. Lifesci Capital initiated coverage on shares of Kodiak Sciences in a report on Thursday, October 23rd. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Jefferies Financial Group initiated coverage on shares of Kodiak Sciences in a report on Monday, September 22nd. They issued a “buy” rating and a $15.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Kodiak Sciences currently has an average rating of “Hold” and a consensus target price of $22.67.

Kodiak Sciences Stock Performance

The stock has a market cap of $1.16 billion, a PE ratio of -5.31 and a beta of 2.88. The company’s 50-day moving average price is $16.15 and its two-hundred day moving average price is $9.57.

Kodiak Sciences (NASDAQ:KOD) last released its earnings results on Thursday, November 13th. The company reported ($1.16) EPS for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.09). Equities research analysts forecast that Kodiak Sciences Inc. will post -3.45 earnings per share for the current fiscal year.

Institutional Trading of Kodiak Sciences

Large investors have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. grew its holdings in shares of Kodiak Sciences by 55.1% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,055,707 shares of the company’s stock worth $7,668,000 after acquiring an additional 730,000 shares during the period. Boone Capital Management LLC purchased a new stake in Kodiak Sciences in the third quarter worth $11,719,000. Acadian Asset Management LLC raised its holdings in Kodiak Sciences by 27.0% in the first quarter. Acadian Asset Management LLC now owns 1,946,134 shares of the company’s stock worth $5,454,000 after purchasing an additional 413,821 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Kodiak Sciences by 90.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 685,198 shares of the company’s stock valued at $1,922,000 after buying an additional 324,722 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Kodiak Sciences by 657.7% during the 3rd quarter. Bank of America Corp DE now owns 309,071 shares of the company’s stock valued at $5,059,000 after buying an additional 268,281 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Company Profile

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.