Kodiak Sciences (NASDAQ:KOD) Stock Price Up 6.7% – What’s Next?

Kodiak Sciences Inc. (NASDAQ:KOD) shares were up 6.7% on Thursday . The stock traded as high as $40.15 and last traded at $39.7310. Approximately 522,786 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 917,104 shares. The stock had previously closed at $37.24.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on KOD shares. HC Wainwright reissued a “buy” rating and set a $58.00 price objective (up from $38.00) on shares of Kodiak Sciences in a research report on Friday, March 27th. Wall Street Zen raised Kodiak Sciences from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Chardan Capital upgraded Kodiak Sciences from a “neutral” rating to a “buy” rating and lifted their target price for the company from $14.00 to $61.00 in a research report on Monday, May 11th. Finally, UBS Group boosted their price target on Kodiak Sciences from $50.00 to $80.00 and gave the company a “buy” rating in a report on Friday, March 27th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Kodiak Sciences presently has an average rating of “Moderate Buy” and an average price target of $42.14.

Kodiak Sciences Trading Up 5.9%

The company has a market cap of $2.47 billion, a P/E ratio of -9.47 and a beta of 2.19. The business’s 50 day simple moving average is $37.67 and its 200 day simple moving average is $31.78.

Kodiak Sciences (NASDAQ:KOD) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.01). Sell-side analysts anticipate that Kodiak Sciences Inc. will post -3.89 EPS for the current year.

Institutional Investors Weigh In On Kodiak Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Westfuller Advisors LLC bought a new position in shares of Kodiak Sciences in the first quarter worth about $26,000. V Square Quantitative Management LLC bought a new stake in Kodiak Sciences during the 1st quarter valued at approximately $26,000. EverSource Wealth Advisors LLC lifted its holdings in Kodiak Sciences by 1,221.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock worth $28,000 after purchasing an additional 916 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Kodiak Sciences in the 4th quarter worth approximately $29,000. Finally, Headlands Technologies LLC lifted its holdings in Kodiak Sciences by 256.4% in the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock worth $30,000 after purchasing an additional 5,815 shares in the last quarter. 89.06% of the stock is owned by institutional investors.

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.