Kodiak Sciences (NASDAQ:KOD) Raised to “Hold” at The Goldman Sachs Group

Kodiak Sciences (NASDAQ:KOD) was upgraded by The Goldman Sachs Group to a “hold” rating in a note issued to investors on Thursday, Zacks reports.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. lifted their target price 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 reiterated a “sell (d-)” rating on shares of Kodiak Sciences in a research note on Friday, July 10th. HC Wainwright restated a “buy” rating and set a $58.00 price target on shares of Kodiak Sciences in a research report on Thursday, September 17th. Finally, Wall Street Zen cut shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.83.

Kodiak Sciences Price Performance

Shares of KOD opened at $33.22 on Thursday. The stock has a market capitalization of $2.09 billion, a PE ratio of -7.93 and a beta of 2.18. The business’s fifty day moving average price is $38.51 and its 200 day moving average price is $37.30. Kodiak Sciences has a 12-month low of $10.94 and a 12-month high of $47.84.

Kodiak Sciences (NASDAQ:KOD) last issued its 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). As a group, research analysts anticipate that Kodiak Sciences will post -3.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kodiak Sciences

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

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.