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

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat.com 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 objective among brokerages that have issued a report on the stock in the last year is $42.1429.

Several equities analysts recently commented on KOD shares. Chardan Capital raised shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and increased their target price for the company from $14.00 to $61.00 in a report on Monday, May 11th. Wall Street Zen raised shares of Kodiak Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. UBS Group upped their price target on shares of Kodiak Sciences from $50.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $58.00 price objective (up from $38.00) on shares of Kodiak Sciences in a research note on Friday, March 27th.

Kodiak Sciences Price Performance

Shares of KOD stock opened at $38.54 on Friday. The business has a 50-day moving average price of $37.38 and a two-hundred day moving average price of $31.93. Kodiak Sciences has a 12-month low of $3.70 and a 12-month high of $47.84. The firm has a market cap of $2.41 billion, a P/E ratio of -9.24 and a beta of 2.19.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.93) by ($0.01). As a group, research analysts expect that Kodiak Sciences will post -3.89 EPS for the current fiscal year.

Institutional Trading of Kodiak Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of KOD. Boone Capital Management LLC purchased a new position in shares of Kodiak Sciences in the third quarter worth $11,719,000. Artia Global Partners LP purchased a new stake in Kodiak Sciences during the 4th quarter valued at $476,000. PSP Research LLC bought a new stake in Kodiak Sciences in the 4th quarter worth $543,000. Profund Advisors LLC bought a new stake in Kodiak Sciences in the 4th quarter worth $618,000. Finally, Vanguard Group Inc. increased its position in shares of Kodiak Sciences by 18.6% in the fourth quarter. Vanguard Group Inc. now owns 2,313,395 shares of the company’s stock valued at $64,683,000 after acquiring an additional 363,103 shares during the period. Institutional investors own 89.06% of the company’s stock.

About Kodiak Sciences

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.