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

Kodiak Sciences Inc. (NASDAQ:KOD) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $42.1429.

KOD has been the topic of several recent analyst reports. Wall Street Zen raised shares of Kodiak Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. HC Wainwright reaffirmed a “buy” rating and set a $58.00 price target (up from $38.00) on shares of Kodiak Sciences in a report on Friday, March 27th. UBS Group lifted their price objective on Kodiak Sciences from $50.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Finally, Chardan Capital upgraded shares of 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 note on Monday, May 11th.

Kodiak Sciences Stock Performance

KOD opened at $38.54 on Friday. The stock’s 50 day moving average price is $37.38 and its 200-day moving average price is $31.93. The stock has a market capitalization of $2.41 billion, a PE ratio of -9.24 and a beta of 2.19. Kodiak Sciences has a 52-week low of $3.70 and a 52-week high of $47.84.

Kodiak Sciences (NASDAQ:KOD) last posted its 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). Research analysts forecast that Kodiak Sciences will post -3.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Kodiak Sciences

Large investors have recently added to or reduced their stakes in the stock. Westfuller Advisors LLC purchased a new stake in Kodiak Sciences during the 1st quarter valued at $26,000. V Square Quantitative Management LLC bought a new stake in shares of Kodiak Sciences in the first quarter worth $26,000. EverSource Wealth Advisors LLC increased its position in Kodiak Sciences by 1,221.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock valued at $28,000 after acquiring an additional 916 shares during the last quarter. KBC Group NV purchased a new stake in Kodiak Sciences during the first quarter valued at $39,000. Finally, GF Fund Management CO. LTD. bought a new position in Kodiak Sciences in the fourth quarter valued at about $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.