Kodiak Sciences Inc. (NASDAQ:KOD) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $48.1429.

Several research firms have recently weighed in on KOD. Chardan Capital upgraded shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $61.00 in a research report on Monday, May 11th. Wall Street Zen lowered shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. HC Wainwright reaffirmed a “buy” rating and set a $58.00 price target on shares of Kodiak Sciences in a research report on Monday, August 17th. JPMorgan Chase & Co. increased their price target on Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Kodiak Sciences in a research report on Friday, July 10th.

Kodiak Sciences Price Performance

Kodiak Sciences stock opened at $38.33 on Monday. The business has a 50 day moving average of $39.90 and a 200-day moving average of $35.55. Kodiak Sciences has a 1 year low of $8.29 and a 1 year high of $47.84. The company has a market capitalization of $2.41 billion, a P/E ratio of -9.15 and a beta of 2.21.

Kodiak Sciences (NASDAQ:KOD) last posted 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). Equities analysts anticipate that Kodiak Sciences will post -3.83 EPS for the current year.

Institutional Investors Weigh In On Kodiak Sciences

Several large investors have recently added to or reduced their stakes in KOD. AQR Capital Management LLC bought a new stake in Kodiak Sciences in the first quarter worth approximately $188,000. Dynamic Technology Lab Private Ltd bought a new position in Kodiak Sciences during the first quarter worth $94,000. Jane Street Group LLC grew its holdings in Kodiak Sciences by 441.3% in the first quarter. Jane Street Group LLC now owns 64,649 shares of the company’s stock worth $181,000 after purchasing an additional 52,705 shares during the period. American Century Companies Inc. grew its holdings in Kodiak Sciences by 6.3% in the second quarter. American Century Companies Inc. now owns 79,745 shares of the company’s stock worth $297,000 after purchasing an additional 4,703 shares during the period. Finally, Federated Hermes Inc. increased its stake in Kodiak Sciences by 190.7% in the second quarter. Federated Hermes Inc. now owns 244,231 shares of the company’s stock valued at $911,000 after purchasing an additional 160,225 shares in the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

About Kodiak Sciences

Kodiak Sciences, Inc is a clinical?stage biopharmaceutical company headquartered in Palo Alto, California, that focuses on the discovery and development of novel therapies for retinal diseases. The company’s proprietary technology centers on antibody biopolymer conjugates (ABCs), which are designed to extend durability, enhance tissue penetration and improve the safety profile of existing therapeutic modalities. Kodiak’s research and development efforts target conditions such as wet age-related macular degeneration (wet AMD), diabetic macular edema (DME) and other serious ophthalmic disorders.

The lead product candidate in Kodiak’s pipeline is KSI-301, an anti-VEGF antibody biopolymer conjugate administered via intravitreal injection.