Chardan Capital Reiterates “Neutral” Rating for Kodiak Sciences (NASDAQ:KOD)

Kodiak Sciences (NASDAQ:KOD)‘s stock had its “neutral” rating reaffirmed by stock analysts at Chardan Capital in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $14.00 price objective on the stock. Chardan Capital’s price objective indicates a potential downside of 1.62% from the company’s current price.

A number of other research analysts also recently weighed in on KOD. Jefferies Financial Group initiated coverage on Kodiak Sciences in a report on Monday, September 22nd. They set a “buy” rating and a $15.00 target price on the stock. JPMorgan Chase & Co. upgraded Kodiak Sciences from an “underweight” rating to a “neutral” rating and set a $15.00 target price on the stock in a report on Thursday, August 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Kodiak Sciences in a report on Saturday, September 27th. HC Wainwright upped their price target on Kodiak Sciences from $3.00 to $5.00 and gave the stock a “neutral” rating in a research note on Monday, August 18th. Finally, Barclays upgraded Kodiak Sciences from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $7.00 to $17.00 in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $13.20.

Kodiak Sciences Price Performance

KOD opened at $14.23 on Monday. Kodiak Sciences has a one year low of $1.92 and a one year high of $19.39. The business has a 50 day simple moving average of $10.50 and a two-hundred day simple moving average of $6.18. The firm has a market capitalization of $751.63 million, a price-to-earnings ratio of -3.74 and a beta of 2.67.

Kodiak Sciences (NASDAQ:KOD) last posted its earnings results on Wednesday, August 13th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.02). As a group, sell-side analysts expect that Kodiak Sciences will post -3.45 EPS for the current fiscal year.

Institutional Trading of Kodiak Sciences

Institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its stake in Kodiak Sciences by 27.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,946,134 shares of the company’s stock valued at $5,454,000 after purchasing an additional 413,821 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Kodiak Sciences by 90.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 685,198 shares of the company’s stock worth $1,922,000 after buying an additional 324,722 shares during the last quarter. Nuveen LLC purchased a new position in shares of Kodiak Sciences in the 1st quarter worth $392,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Kodiak Sciences by 16.3% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,325,707 shares of the company’s stock worth $3,719,000 after buying an additional 186,180 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of Kodiak Sciences by 163.6% in the 1st quarter. GSA Capital Partners LLP now owns 205,833 shares of the company’s stock worth $577,000 after buying an additional 127,748 shares during the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

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.