Kodiak Sciences Inc. (NASDAQ:KOD) Given Average Rating of “Moderate Buy” by Brokerages

Kodiak Sciences Inc. (NASDAQ:KOD) has been assigned an average rating of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $48.1429.

Several analysts recently weighed in on KOD shares. Wall Street Zen raised Kodiak Sciences from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. JPMorgan Chase & Co. lifted their target price on Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kodiak Sciences in a report on Friday, July 10th. Finally, Chardan Capital raised Kodiak Sciences from a “neutral” rating to a “buy” rating and upped their price target for the company from $14.00 to $61.00 in a research report on Monday, May 11th.

Institutional Trading of Kodiak Sciences

Several institutional investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB bought a new position in shares of Kodiak Sciences in the 2nd quarter worth about $725,000. Bank of America Corp DE grew its position in shares of Kodiak Sciences by 52.7% during the 1st quarter. Bank of America Corp DE now owns 300,356 shares of the company’s stock valued at $11,450,000 after buying an additional 103,667 shares during the last quarter. 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 buying an additional 325,457 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Kodiak Sciences by 94.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,927 shares of the company’s stock worth $73,000 after acquiring an additional 936 shares during the period. Finally, California State Teachers Retirement System raised its stake in Kodiak Sciences by 1,358.9% during the first quarter. California State Teachers Retirement System now owns 29,396 shares of the company’s stock worth $1,121,000 after acquiring an additional 27,381 shares during the period. Institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Trading Up 1.7%

KOD stock opened at $43.61 on Thursday. The firm has a 50 day simple moving average of $37.92 and a 200-day simple moving average of $34.21. The company has a market capitalization of $2.73 billion, a P/E ratio of -10.46 and a beta of 2.21. Kodiak Sciences has a twelve month low of $7.40 and a twelve month high of $47.84.

Kodiak Sciences (NASDAQ:KOD) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.01). On average, research analysts predict that Kodiak Sciences will post -3.78 EPS for the current year.

Kodiak Sciences Company Profile

Kodiak Sciences, Inc is a clinical‐stage biopharmaceutical company headquartered in Palo Alto, California, that focuses on the discovery and development of novel therapies for retinal diseases. The company’s proprietary technology centers on antibody biopolymer conjugates (ABCs), which are designed to extend durability, enhance tissue penetration and improve the safety profile of existing therapeutic modalities. Kodiak’s research and development efforts target conditions such as wet age-related macular degeneration (wet AMD), diabetic macular edema (DME) and other serious ophthalmic disorders.

The lead product candidate in Kodiak’s pipeline is KSI-301, an anti-VEGF antibody biopolymer conjugate administered via intravitreal injection.