Kodiak Sciences (NASDAQ:KOD) Price Target Raised to $66.00

Kodiak Sciences (NASDAQ:KOD) had its price target upped by JPMorgan Chase & Co. from $56.00 to $66.00 in a report published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts have also recently issued reports about the company. Wall Street Zen raised Kodiak Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Chardan Capital raised shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $14.00 to $61.00 in a research note on Monday, May 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Kodiak Sciences in a report on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.14.

Kodiak Sciences Stock Up 1.7%

Shares of Kodiak Sciences stock opened at $43.61 on Monday. Kodiak Sciences has a 12 month low of $7.40 and a 12 month high of $47.84. The business has a fifty day simple moving average of $37.92 and a 200 day simple moving average of $34.21. The stock has a market cap of $2.73 billion, a PE ratio of -10.46 and a beta of 2.21.

Kodiak Sciences (NASDAQ:KOD) last released its earnings results on Thursday, May 7th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.93) by ($0.01). Analysts expect that Kodiak Sciences will post -3.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Kodiak Sciences

A number of hedge funds have recently modified their holdings of the business. AQR Capital Management LLC acquired a new position in shares of Kodiak Sciences in the 1st quarter valued at approximately $188,000. Dynamic Technology Lab Private Ltd acquired a new stake in Kodiak Sciences during the 1st quarter worth approximately $94,000. Jane Street Group LLC raised its holdings in Kodiak Sciences by 441.3% during the 1st quarter. Jane Street Group LLC now owns 64,649 shares of the company’s stock worth $181,000 after buying an additional 52,705 shares during the period. American Century Companies Inc. lifted its stake in Kodiak Sciences by 6.3% in the second quarter. American Century Companies Inc. now owns 79,745 shares of the company’s stock valued at $297,000 after buying an additional 4,703 shares in the last quarter. Finally, Federated Hermes Inc. lifted 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 buying an additional 160,225 shares in the last quarter. Institutional investors and hedge funds 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.