Kodiak Sciences Inc. (NASDAQ:KOD) Stock Has Consensus Price Target of $104.71 According to Analysts

Kodiak Sciences Inc. (NASDAQ:KOD) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $104.71.

A number of research firms recently weighed in on KOD. The Goldman Sachs Group reiterated a “neutral” rating and issued a $103.00 price target on shares of Kodiak Sciences in a research report on Wednesday, September 30th. HC Wainwright boosted their price objective on Kodiak Sciences from $96.00 to $126.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Jefferies Financial Group reaffirmed a “buy” rating and set a $112.00 price objective on shares of Kodiak Sciences in a research note on Monday, September 28th. Weiss Ratings cut shares of Kodiak Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd.

Insider Buying and Selling at Kodiak Sciences

In related news, Director Bros. Advisors Lp Baker purchased 807,840 shares of the firm’s stock in a transaction dated Monday, September 28th. The stock was bought at an average price of $72.57 per share, for a total transaction of $58,624,948.80. Following the purchase, the director owned 19,121,134 shares in the company, valued at $1,387,620,694.38. The trade was a 4.41% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have acquired 1,941,755 shares of company stock worth $156,986,026. 44.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KOD. Baker BROS. Advisors LP boosted its position in Kodiak Sciences by 15.1% in the 4th quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company’s stock valued at $556,940,000 after buying an additional 2,608,696 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Kodiak Sciences in the 2nd quarter valued at $161,113,000. Jupiter Topco LLC bought a new stake in shares of Kodiak Sciences during the second quarter worth $59,507,000. Janus Henderson Group PLC raised its position in shares of Kodiak Sciences by 32.5% during the first quarter. Janus Henderson Group PLC now owns 1,325,457 shares of the company’s stock worth $50,540,000 after acquiring an additional 325,457 shares during the last quarter. Finally, ICONIQ Capital LLC bought a new stake in shares of Kodiak Sciences during the second quarter worth $49,345,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Kodiak Sciences Stock Performance

Kodiak Sciences stock opened at $91.35 on Tuesday. The firm has a market capitalization of $5.74 billion, a P/E ratio of -21.80 and a beta of 2.03. The company has a 50-day simple moving average of $54.36 and a 200-day simple moving average of $44.75. Kodiak Sciences has a one year low of $15.83 and a one year high of $104.00.

Kodiak Sciences (NASDAQ:KOD) last posted 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). As a group, sell-side analysts forecast that Kodiak Sciences will post -3.97 earnings per share for the current year.

Kodiak Sciences Company Profile

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.