Kodiak Sciences Inc. (NASDAQ:KOD) Given Consensus Recommendation of “Hold” by Brokerages

Kodiak Sciences Inc. (NASDAQ:KOD) has earned a consensus recommendation of “Hold” from the seven research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $22.6667.

Several equities research analysts recently commented on KOD shares. JPMorgan Chase & Co. raised Kodiak Sciences from a “neutral” rating to an “overweight” rating and increased their price target for the company from $15.00 to $24.00 in a report on Friday, October 24th. Barclays upgraded shares of Kodiak Sciences from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $7.00 to $17.00 in a report on Thursday, September 25th. Wall Street Zen downgraded shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Jefferies Financial Group began coverage on shares of Kodiak Sciences in a research note on Monday, September 22nd. They issued a “buy” rating and a $15.00 price objective on the stock. Finally, Lifesci Capital assumed coverage on shares of Kodiak Sciences in a research note on Thursday, October 23rd. They set an “outperform” rating and a $40.00 price target on the stock.

Kodiak Sciences Price Performance

KOD opened at $24.13 on Wednesday. The firm has a fifty day moving average price of $19.59 and a 200 day moving average price of $11.95. Kodiak Sciences has a 1 year low of $1.92 and a 1 year high of $26.21. The stock has a market cap of $1.28 billion, a P/E ratio of -5.86 and a beta of 2.68.

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

Institutional Investors Weigh In On Kodiak Sciences

Several institutional investors have recently modified their holdings of KOD. Adage Capital Partners GP L.L.C. grew its stake in Kodiak Sciences by 55.1% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,055,707 shares of the company’s stock valued at $7,668,000 after acquiring an additional 730,000 shares during the last quarter. Boone Capital Management LLC acquired a new stake in shares of Kodiak Sciences during the third quarter worth $11,719,000. Acadian Asset Management LLC grew its holdings in Kodiak Sciences by 27.0% in the 1st quarter. Acadian Asset Management LLC now owns 1,946,134 shares of the company’s stock valued at $5,454,000 after buying an additional 413,821 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Kodiak Sciences by 90.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 685,198 shares of the company’s stock valued at $1,922,000 after purchasing an additional 324,722 shares during the period. Finally, Bank of America Corp DE grew its stake 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 during the period. Hedge funds and other institutional investors 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.