Kodiak Sciences (NASDAQ:KOD) Issues Earnings Results

Kodiak Sciences (NASDAQ:KOD) released its earnings results on Thursday. The company reported ($1.05) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.01, Zacks reports.

Kodiak Sciences Stock Performance

Shares of KOD traded down $1.09 during mid-day trading on Thursday, hitting $108.25. 557,871 shares of the company were exchanged, compared to its average volume of 906,100. Kodiak Sciences has a 1-year low of $18.05 and a 1-year high of $112.31. The stock has a market cap of $6.80 billion, a price-to-earnings ratio of -25.84 and a beta of 2.02. The company has a 50 day moving average of $75.22 and a 200-day moving average of $45.32.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on KOD shares. JPMorgan Chase & Co. upped their target price on shares of Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Lifesci Capital upped their price target 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. Jefferies Financial Group reaffirmed a “buy” rating and issued a $112.00 price objective on shares of Kodiak Sciences in a research note on Monday, September 28th. UBS Group upped their target price 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. Finally, Wall Street Zen raised shares of Kodiak Sciences from a “strong sell” rating to a “sell” rating in a research note on Sunday, October 4th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $104.71.

Insider Activity at Kodiak Sciences

In other news, Director Bros. Advisors Lp Baker bought 807,840 shares of Kodiak Sciences stock in a transaction on Monday, September 28th. The shares were bought at an average cost of $72.57 per share, with a total value of $58,624,948.80. Following the completion of the purchase, the director directly owned 19,121,134 shares of the company’s stock, valued at approximately $1,387,620,694.38. This trade represents a 4.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders acquired 2,188,845 shares of company stock worth $181,326,862. 44.40% of the stock is owned by insiders.

About Kodiak Sciences

Kodiak Sciences is a clinical-stage biopharmaceutical company focused on developing treatments for retinal and other eye diseases. The company’s research centers on therapies designed to address conditions involving damage to the retina and vision loss. Kodiak’s technology platform combines therapeutic antibodies with a biopolymer to create antibody biopolymer conjugates, which are designed to provide sustained treatment effects. Its development programs have included KSI-301, an investigational therapy targeting vascular endothelial growth factor (VEGF) for retinal diseases.