Kodiak Sciences (NASDAQ:KOD) Stock Price Target Raised at HC Wainwright

Kodiak Sciences (NASDAQ:KOD) had its price objective increased by HC Wainwright from $96.00 to $126.00 in a research note published on Monday, Marketbeat.com reports. HC Wainwright currently has a buy rating on the stock.

Several other research firms also recently issued reports on KOD. Lifesci Capital boosted their price objective on shares of Kodiak Sciences from $85.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, September 28th. JPMorgan Chase & Co. increased their target price on shares of Kodiak Sciences from $56.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Jefferies Financial Group reiterated a “buy” rating and issued a $112.00 target price on shares of Kodiak Sciences in a research note on Monday, September 28th. Wall Street Zen raised Kodiak Sciences from a “strong sell” rating to a “sell” rating in a research report on Sunday, October 4th. Finally, Weiss Ratings lowered Kodiak Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, October 6th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $104.71.

Kodiak Sciences Trading Down 0.6%

Shares of KOD stock opened at $99.26 on Monday. The firm has a market capitalization of $6.24 billion, a P/E ratio of -23.69 and a beta of 2.03. Kodiak Sciences has a 1 year low of $10.94 and a 1 year high of $104.00. The firm’s fifty day simple moving average is $50.02 and its 200 day simple moving average is $42.87.

Kodiak Sciences (NASDAQ:KOD) last released its earnings results on Thursday, August 13th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.09). Equities research analysts anticipate that Kodiak Sciences will post -3.97 EPS for the current fiscal year.

Insider Activity at Kodiak Sciences

In other news, Director Bros. Advisors Lp Baker bought 807,840 shares of Kodiak Sciences stock in a transaction that occurred on Monday, September 28th. The stock was purchased at an average cost of $72.57 per share, with a total value of $58,624,948.80. Following the completion of the transaction, the director directly owned 19,121,134 shares in the company, valued at $1,387,620,694.38. This trade represents a 4.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 1,941,755 shares of company stock valued at $156,986,026 in the last three months. Corporate insiders own 44.40% of the company’s stock.

Institutional Investors Weigh In On Kodiak Sciences

Several institutional investors and hedge funds have recently bought and sold shares of the business. Baker BROS. Advisors LP lifted its holdings in shares of 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 acquiring an additional 2,608,696 shares during the period. BlackRock Inc. bought a new stake in Kodiak Sciences in the second quarter valued at about $161,113,000. Jupiter Topco LLC bought a new stake in Kodiak Sciences in the second quarter valued at about $59,507,000. Janus Henderson Group PLC increased its position in Kodiak Sciences by 32.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,325,457 shares of the company’s stock valued at $50,540,000 after acquiring an additional 325,457 shares in the last quarter. Finally, ICONIQ Capital LLC acquired a new stake in Kodiak Sciences in the 2nd quarter valued at about $49,345,000. Institutional investors own 89.06% of the company’s stock.

About Kodiak Sciences

Kodiak Sciences Inc (NASDAQ: KOD) is a clinical-stage biopharmaceutical company focused on developing medicines for serious retinal diseases. The company’s research is centered on its Antibody Biopolymer Conjugate (ABC) platform, which is designed to combine antibody-based therapies with biopolymer technology to potentially extend the duration of treatment in the eye.

Kodiak’s lead programs have focused on ophthalmic diseases involving abnormal blood-vessel growth or leakage, including wet age-related macular degeneration, diabetic macular edema and retinal vein occlusion.