Kodiak Sciences (NASDAQ:KOD) Given New $120.00 Price Target at UBS Group

Kodiak Sciences (NASDAQ:KOD) had its price target increased by equities research analysts at UBS Group from $80.00 to $120.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 33.41% from the company’s previous close.

Several other analysts have also commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak Sciences in a research report on Friday, July 10th. The Goldman Sachs Group started coverage on Kodiak Sciences in a research note on Thursday. They set a “neutral” rating and a $36.00 price target for the company. Wall Street Zen cut Kodiak Sciences from a “sell” rating to a “strong sell” rating in a research note on Saturday. HC Wainwright boosted their price target on shares of Kodiak Sciences from $58.00 to $96.00 and gave the company a “buy” rating in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Kodiak Sciences from $56.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Kodiak Sciences has an average rating of “Moderate Buy” and an average target price of $69.83.

Kodiak Sciences Price Performance

Shares of NASDAQ KOD traded up $57.60 during mid-day trading on Monday, reaching $89.95. 28,161,954 shares of the company’s stock traded hands, compared to its average volume of 985,338. The stock has a market cap of $5.65 billion, a P/E ratio of -21.31 and a beta of 2.18. The business has a 50-day simple moving average of $38.31 and a 200 day simple moving average of $37.34. Kodiak Sciences has a 1-year low of $10.94 and a 1-year high of $90.88.

Kodiak Sciences (NASDAQ:KOD) last posted its earnings results on Thursday, August 13th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). Equities research analysts anticipate that Kodiak Sciences will post -3.89 earnings per share for the current fiscal year.

Institutional Trading of Kodiak Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of KOD. BlackRock Inc. purchased a new position in shares of Kodiak Sciences during the second quarter worth about $161,113,000. Baker BROS. Advisors LP grew its position in Kodiak Sciences by 15.1% in the fourth quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company’s stock worth $556,940,000 after acquiring an additional 2,608,696 shares in the last quarter. Jupiter Topco LLC bought a new position in Kodiak Sciences in the second quarter valued at $59,507,000. ICONIQ Capital LLC bought a new position in Kodiak Sciences in the second quarter valued at $49,345,000. Finally, Bank of America Corp DE purchased a new stake in Kodiak Sciences during the second quarter valued at about $14,949,000. Institutional investors own 89.06% of the company’s stock.

Trending Headlines about Kodiak Sciences

Here are the key news stories impacting Kodiak Sciences this week:

• Positive Sentiment: Kodiak reported positive Phase 3 DAYBREAK results for Zenkuda (tabirafusp-ted/KSI-501) in wet age-related macular degeneration. The data indicate the candidate performed comparably with Regeneron’s established Eylea, supporting Kodiak’s plan to seek regulatory approval for Zenkuda. Kodiak Sciences Stock Pops 64% After Eye-Disease Drugs Pass Key Trial
• Positive Sentiment: The DAYBREAK outcome was described as a positive result for both Zenkuda and tabirafusp-ted in wet AMD, materially improving the company’s prospects in a large commercial market dominated by anti-VEGF treatments. The news drove substantial investor interest, with the stock reported to be up more than 440% over the past year. Kodiak Sciences Reports Positive Phase 3 DAYBREAK Results
• Positive Sentiment: HC Wainwright raised its Kodiak price target from $58 to $96 and assigned a “Buy” rating. The new target implies additional upside from the reported trading level, reflecting increased confidence in Zenkuda’s clinical and regulatory potential. HC Wainwright Raises Kodiak Sciences Price Target
• Neutral Sentiment: Goldman Sachs initiated research coverage of Kodiak Sciences. The available report does not specify the firm’s rating or price target, so the immediate investment implication is unclear. Kodiak Sciences Research Coverage Started at Goldman Sachs

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.