HC Wainwright Raises Earnings Estimates for Kodiak Sciences

Kodiak Sciences Inc. (NASDAQ:KOD) – Research analysts at HC Wainwright upped their FY2030 earnings per share estimates for Kodiak Sciences in a research report issued to clients and investors on Monday, October 12th. HC Wainwright analyst M. Caufield now anticipates that the company will post earnings per share of $6.24 for the year, up from their previous forecast of $5.81. HC Wainwright currently has a “Buy” rating and a $126.00 target price on the stock. The consensus estimate for Kodiak Sciences’ current full-year earnings is ($3.97) per share.

A number of other equities analysts have also weighed in on KOD. UBS Group upped their price target on shares of Kodiak Sciences from $80.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. The Goldman Sachs Group reissued a “neutral” rating and issued a $103.00 price objective on shares of Kodiak Sciences in a research note on Wednesday, September 30th. Lifesci Capital raised their price objective on shares of Kodiak Sciences from $85.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, September 28th. Wall Street Zen upgraded shares of Kodiak Sciences from a “strong sell” rating to a “sell” rating in a research note on Sunday, October 4th. Finally, JPMorgan Chase & Co. lifted their target price 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. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $104.71.

Kodiak Sciences Trading Down 0.6%

NASDAQ KOD opened at $99.26 on Tuesday. Kodiak Sciences has a 12 month low of $10.94 and a 12 month high of $104.00. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of -23.69 and a beta of 2.03. The company’s 50 day moving average is $50.02 and its two-hundred day moving average is $42.87.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09).

Insider Activity

In related news, Director Bros. Advisors Lp Baker acquired 33,726 shares of Kodiak Sciences stock in a transaction dated Tuesday, September 29th. The shares were purchased at an average price of $85.05 per share, for a total transaction of $2,868,396.30. Following the completion of the transaction, the director directly owned 20,191,214 shares in the company, valued at approximately $1,717,262,750.70. This represents a 0.17% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 1,941,755 shares of company stock worth $156,986,026 in the last quarter. Company insiders own 44.40% of the company’s stock.

Hedge Funds Weigh In On Kodiak Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP grew its stake in Kodiak Sciences by 145.8% during the second quarter. Engineers Gate Manager LP now owns 29,537 shares of the company’s stock valued at $1,151,000 after acquiring an additional 17,520 shares in the last quarter. Squarepoint Ops LLC lifted its stake in Kodiak Sciences by 112.6% in the 2nd quarter. Squarepoint Ops LLC now owns 151,098 shares of the company’s stock worth $5,887,000 after purchasing an additional 80,042 shares in the last quarter. Arizona State Retirement System lifted its stake in Kodiak Sciences by 6.9% in the 2nd quarter. Arizona State Retirement System now owns 8,533 shares of the company’s stock worth $332,000 after purchasing an additional 554 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in Kodiak Sciences in the 2nd quarter worth $232,000. Finally, Wellington Management Group LLP lifted its stake in Kodiak Sciences by 81.9% in the 2nd quarter. Wellington Management Group LLP now owns 793,613 shares of the company’s stock worth $30,919,000 after purchasing an additional 357,284 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

About Kodiak Sciences

Kodiak Sciences Inc (NASDAQ: KOD) is a clinical-stage biopharmaceutical company focused on developing medicines for serious retinal diseases. The company’s research is centered on its Antibody Biopolymer Conjugate (ABC) platform, which is designed to combine antibody-based therapies with biopolymer technology to potentially extend the duration of treatment in the eye.

Kodiak’s lead programs have focused on ophthalmic diseases involving abnormal blood-vessel growth or leakage, including wet age-related macular degeneration, diabetic macular edema and retinal vein occlusion.