Barclays Forecasts Strong Price Appreciation for Kodiak Sciences (NASDAQ:KOD) Stock

Kodiak Sciences (NASDAQ:KOD) had its target price upped by Barclays from $3.00 to $4.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

Separately, HC Wainwright restated a “neutral” rating and set a $3.00 target price on shares of Kodiak Sciences in a research note on Friday.

Kodiak Sciences Stock Performance

KOD stock opened at $5.53 on Friday. The company’s 50 day moving average price is $3.36 and its 200 day moving average price is $3.04. Kodiak Sciences has a fifty-two week low of $1.89 and a fifty-two week high of $7.77. The firm has a market capitalization of $290.99 million, a price-to-earnings ratio of -1.52 and a beta of 2.26.

Hedge Funds Weigh In On Kodiak Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in Kodiak Sciences in the first quarter valued at approximately $50,000. SG Americas Securities LLC acquired a new stake in shares of Kodiak Sciences in the third quarter valued at approximately $33,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Kodiak Sciences in the first quarter valued at approximately $68,000. Meeder Asset Management Inc. acquired a new stake in shares of Kodiak Sciences in the second quarter valued at approximately $36,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Kodiak Sciences in the second quarter valued at approximately $36,000. 89.06% of the stock is owned by institutional investors and hedge funds.

Kodiak Sciences Company Profile

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, researches, develops, and commercializes therapeutics to treat retinal diseases. Its lead product candidate is tarcocimab tedromer (KSI-301), an anti-vascular endothelial growth factor antibody biopolymer that is in Phase IIb/III clinical study to treat wet age-related macular degeneration (AMD), as well as Phase III clinical study for the treatment of diabetic macular edema, naïve macular edema due to retinal vein occlusion, and non-proliferative diabetic retinopathy.