Kodiak Sciences’ (KOD) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Kodiak Sciences (NASDAQ:KOD) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm currently has a $58.00 price target on the stock.

A number of other analysts have also commented on KOD. JPMorgan Chase & Co. increased their price objective on Kodiak Sciences from $56.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Kodiak Sciences in a research note on Friday, July 10th. Finally, Wall Street Zen lowered shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.14.

Kodiak Sciences Trading Down 0.4%

KOD stock opened at $32.71 on Thursday. The firm has a 50 day moving average of $39.25 and a 200-day moving average of $37.03. The company has a market cap of $2.06 billion, a price-to-earnings ratio of -7.81 and a beta of 2.18. Kodiak Sciences has a 12-month low of $9.39 and a 12-month high of $47.84.

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

Institutional Investors Weigh In On Kodiak Sciences

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Kodiak Sciences in the second quarter valued at $161,113,000. Baker BROS. Advisors LP lifted its position in Kodiak Sciences by 15.1% during the fourth quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company’s stock worth $556,940,000 after buying an additional 2,608,696 shares during the period. Jupiter Topco LLC acquired a new stake in Kodiak Sciences in the 2nd quarter worth about $59,507,000. ICONIQ Capital LLC acquired a new stake in Kodiak Sciences in the 2nd quarter worth about $49,345,000. Finally, Bank of America Corp DE purchased a new stake in Kodiak Sciences in the 2nd quarter valued at about $14,949,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

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.