Kodiak Sciences (NASDAQ:KOD) Announces Quarterly Earnings Results

Kodiak Sciences (NASDAQ:KOD) released its earnings results on Thursday. The company reported ($1.05) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.01, Zacks reports.

Kodiak Sciences Price Performance

NASDAQ:KOD traded up $2.47 during mid-day trading on Friday, reaching $110.72. The stock had a trading volume of 317,471 shares, compared to its average volume of 1,117,171. The business’s 50 day moving average is $75.22 and its 200 day moving average is $45.32. Kodiak Sciences has a fifty-two week low of $18.15 and a fifty-two week high of $112.31. The stock has a market cap of $6.96 billion, a P/E ratio of -26.42 and a beta of 2.02.

Insiders Place Their Bets

In other Kodiak Sciences news, Director Bros. Advisors Lp Baker bought 807,840 shares of Kodiak Sciences stock in a transaction on Monday, September 28th. The stock was purchased at an average cost of $72.57 per share, for a total transaction of $58,624,948.80. Following the completion of the purchase, the director directly owned 19,121,134 shares of the company’s stock, valued at $1,387,620,694.38. The trade was a 4.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 2,188,845 shares of company stock worth $181,326,862 over the last 90 days. 44.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on KOD. JPMorgan Chase & Co. raised their price target 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. Weiss Ratings lowered shares of Kodiak Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, October 6th. Jefferies Financial Group reiterated a “buy” rating and issued a $112.00 target price on shares of Kodiak Sciences in a research report on Monday, September 28th. HC Wainwright increased their target price on shares of Kodiak Sciences from $96.00 to $126.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Finally, Wall Street Zen raised shares of Kodiak Sciences from a “strong sell” rating to a “sell” rating in a research note on Sunday, October 4th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $109.00.

Kodiak Sciences Company Profile

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.