Kodiak Sciences Inc. (NASDAQ:KOD) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) have been given an average rating of “Moderate Buy” by the eight ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $104.71.

KOD has been the topic of several analyst reports. UBS Group upped their target price on Kodiak Sciences from $80.00 to $120.00 and gave the company a “buy” rating in a report on Monday, September 28th. HC Wainwright upped their target price on Kodiak Sciences from $96.00 to $126.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Wall Street Zen upgraded shares of Kodiak Sciences from a “strong sell” rating to a “sell” rating in a report on Sunday, October 4th. Jefferies Financial Group reissued a “buy” rating and set a $112.00 target price on shares of Kodiak Sciences in a research report on Monday, September 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of Kodiak Sciences from $56.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd.

Insider Buying and Selling

In related news, Director Bros. Advisors Lp Baker acquired 86,432 shares of the stock in a transaction dated Thursday, November 5th. The stock was purchased at an average cost of $98.51 per share, with a total value of $8,514,416.32. Following the completion of the purchase, the director directly owned 20,424,859 shares in the company, valued at $2,012,052,860.09. This trade represents a 0.42% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders purchased 2,188,845 shares of company stock worth $181,326,862. Insiders own 44.40% of the company’s stock.

Institutional Trading of Kodiak Sciences

A number of hedge funds have recently bought and sold shares of KOD. BlackRock Inc. bought a new stake in Kodiak Sciences in the second quarter worth about $161,113,000. Jupiter Topco LLC bought a new position in shares of Kodiak Sciences during the 2nd quarter valued at approximately $59,507,000. Janus Henderson Group PLC grew its position in shares of Kodiak Sciences by 32.5% during 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 during the period. ICONIQ Capital LLC bought a new position in shares of Kodiak Sciences during the 2nd quarter valued at approximately $49,345,000. Finally, Wellington Management Group LLP increased its stake in shares of Kodiak Sciences by 81.9% during the 2nd quarter. Wellington Management Group LLP now owns 793,613 shares of the company’s stock worth $30,919,000 after purchasing an additional 357,284 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors.

Kodiak Sciences Trading Up 1.2%

NASDAQ KOD opened at $109.34 on Friday. The business’s 50-day moving average price is $73.81 and its two-hundred day moving average price is $44.91. Kodiak Sciences has a 12 month low of $18.05 and a 12 month high of $112.31. The firm has a market capitalization of $6.87 billion, a PE ratio of -26.10 and a beta of 2.02.

Kodiak Sciences (NASDAQ:KOD) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). As a group, analysts forecast that Kodiak Sciences will post -3.97 earnings per share for the current fiscal year.

About Kodiak Sciences

Kodiak Sciences is a clinical-stage biopharmaceutical company focused on developing treatments for retinal and other eye diseases. The company’s research centers on therapies designed to address conditions involving damage to the retina and vision loss. Kodiak’s technology platform combines therapeutic antibodies with a biopolymer to create antibody biopolymer conjugates, which are designed to provide sustained treatment effects. Its development programs have included KSI-301, an investigational therapy targeting vascular endothelial growth factor (VEGF) for retinal diseases.