The Goldman Sachs Group Begins Coverage on Kodiak Sciences (NASDAQ:KOD)

Analysts at The Goldman Sachs Group assumed coverage on shares of Kodiak Sciences (NASDAQ:KOD) in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $36.00 price target on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 11.28% from the company’s previous close.

KOD has been the subject of a number of other reports. HC Wainwright reissued a “buy” rating and set a $58.00 target price on shares of Kodiak Sciences in a research note on Thursday, September 17th. Wall Street Zen downgraded Kodiak Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. JPMorgan Chase & Co. lifted their target price on Kodiak Sciences from $56.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak Sciences in a research note on Friday, July 10th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $56.83.

Kodiak Sciences Trading Down 2.6%

KOD traded down $0.87 during trading on Thursday, reaching $32.35. 2,173,119 shares of the company were exchanged, compared to its average volume of 842,628. Kodiak Sciences has a 52 week low of $10.94 and a 52 week high of $47.84. The firm has a 50 day moving average of $38.51 and a 200 day moving average of $37.30. The stock has a market cap of $2.03 billion, a P/E ratio of -7.72 and a beta of 2.18.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.09). As a group, analysts forecast that Kodiak Sciences will post -3.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kodiak Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Engineers Gate Manager LP boosted its position in shares of Kodiak Sciences by 145.8% during the 2nd quarter. Engineers Gate Manager LP now owns 29,537 shares of the company’s stock valued at $1,151,000 after purchasing an additional 17,520 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of Kodiak Sciences by 112.6% in the 2nd quarter. Squarepoint Ops LLC now owns 151,098 shares of the company’s stock worth $5,887,000 after purchasing an additional 80,042 shares in the last quarter. Arizona State Retirement System lifted its stake in Kodiak Sciences by 6.9% during the second quarter. Arizona State Retirement System now owns 8,533 shares of the company’s stock valued at $332,000 after purchasing an additional 554 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Kodiak Sciences during the second quarter worth approximately $232,000. Finally, Wellington Management Group LLP boosted its holdings in Kodiak Sciences by 81.9% during the second quarter. Wellington Management Group LLP now owns 793,613 shares of the company’s stock worth $30,919,000 after buying an additional 357,284 shares in the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

Kodiak Sciences Company Profile

Kodiak Sciences Inc (NASDAQ: KOD) is a biopharmaceutical company focused on developing therapies for retinal diseases and other conditions affecting the eye. The company’s research is centered on antibody biopolymer conjugates, a technology designed to extend the duration of action of biologic medicines in ocular tissues and potentially reduce the frequency of administration.

Its lead development program has been tarcocimab tedromer, also known as KSI-301, an anti-vascular endothelial growth factor (VEGF) therapy investigated for retinal vascular diseases, including diabetic macular edema, diabetic retinopathy and neovascular age-related macular degeneration.