Kodiak Sciences Inc. (NASDAQ:KOD) Given Average Rating of “Moderate Buy” by Analysts

Kodiak Sciences Inc. (NASDAQ:KOD) has been given an average recommendation of “Moderate Buy” by the eight analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $48.1429.

A number of equities analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Kodiak Sciences in a report on Friday, July 10th. JPMorgan Chase & Co. raised their target price on Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Wall Street Zen lowered shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, HC Wainwright restated a “buy” rating and set a $58.00 price objective on shares of Kodiak Sciences in a research report on Thursday.

Kodiak Sciences Price Performance

NASDAQ KOD opened at $32.85 on Friday. The company has a fifty day moving average price of $39.43 and a 200-day moving average price of $37.07. Kodiak Sciences has a 1 year low of $9.22 and a 1 year high of $47.84. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -7.84 and a beta of 2.18.

Kodiak Sciences (NASDAQ:KOD) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). On average, research analysts anticipate that Kodiak Sciences will post -3.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Kodiak Sciences

Several institutional investors and hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new position in shares of Kodiak Sciences during the first quarter valued at about $26,000. Westfuller Advisors LLC purchased a new position in shares of Kodiak Sciences in the 1st quarter valued at approximately $26,000. EverSource Wealth Advisors LLC lifted 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 buying an additional 916 shares during the period. KBC Group NV bought a new stake in Kodiak Sciences during the first quarter worth about $39,000. Finally, E Fund Management Co. Ltd. bought a new stake in shares of Kodiak Sciences in the 2nd quarter worth approximately $228,000. 89.06% of the stock is currently owned by institutional investors.

About Kodiak Sciences

Kodiak Sciences Inc (NASDAQ: KOD) is a biopharmaceutical company focused on developing therapies for retinal diseases and other conditions affecting the eye. The company’s research is centered on antibody biopolymer conjugates, a technology designed to extend the duration of action of biologic medicines in ocular tissues and potentially reduce the frequency of administration.

Its lead development program has been tarcocimab tedromer, also known as KSI-301, an anti-vascular endothelial growth factor (VEGF) therapy investigated for retinal vascular diseases, including diabetic macular edema, diabetic retinopathy and neovascular age-related macular degeneration.