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

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) have earned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $42.1429.

A number of equities analysts have issued reports on the company. Chardan Capital raised Kodiak Sciences from a “neutral” rating to a “buy” rating and upped their target price for the company from $14.00 to $61.00 in a research report on Monday, May 11th. Wall Street Zen upgraded shares of Kodiak Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. UBS Group upped their price target on shares of Kodiak Sciences from $50.00 to $80.00 and gave the company a “buy” rating in a report on Friday, March 27th. Finally, HC Wainwright reiterated a “buy” rating and set a $58.00 price objective (up from $38.00) on shares of Kodiak Sciences in a research note on Friday, March 27th.

Kodiak Sciences Price Performance

Shares of Kodiak Sciences stock opened at $31.06 on Wednesday. The business has a 50-day moving average of $39.60 and a 200-day moving average of $30.38. The company has a market capitalization of $1.94 billion, a PE ratio of -7.45 and a beta of 2.21. Kodiak Sciences has a 1-year low of $3.43 and a 1-year high of $47.84.

Kodiak Sciences (NASDAQ:KOD) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.93) by ($0.01). On average, equities analysts expect that Kodiak Sciences will post -3.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kodiak Sciences

Large investors have recently modified their holdings of the stock. Westfuller Advisors LLC acquired a new stake in Kodiak Sciences during the first quarter valued at approximately $26,000. V Square Quantitative Management LLC bought a new stake in shares of Kodiak Sciences in the 1st quarter valued at approximately $26,000. EverSource Wealth Advisors LLC raised its position in shares of Kodiak Sciences by 1,221.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock valued at $28,000 after acquiring an additional 916 shares in the last quarter. KBC Group NV acquired a new stake in shares of Kodiak Sciences during the 1st quarter valued at approximately $39,000. Finally, GF Fund Management CO. LTD. bought a new position in Kodiak Sciences during the fourth quarter worth $29,000. Institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Company Profile

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.