Kodiak Sciences (NASDAQ:KOD) Given “Buy” Rating at HC Wainwright

Kodiak Sciences (NASDAQ:KOD)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued on Monday, Marketbeat.com reports. They currently have a $58.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 40.27% from the company’s previous close.

KOD has been the topic of a number of other research reports. Chardan Capital raised Kodiak Sciences from a “neutral” rating to a “buy” rating and increased their price target for the company from $14.00 to $61.00 in a research note on Monday, May 11th. JPMorgan Chase & Co. lifted their price objective on Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kodiak Sciences in a report on Friday, July 10th. Finally, Wall Street Zen downgraded Kodiak Sciences from a “hold” rating to a “sell” rating in a report on Saturday. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $48.14.

Kodiak Sciences Price Performance

KOD opened at $41.35 on Monday. The firm has a 50 day simple moving average of $39.10 and a 200 day simple moving average of $35.01. Kodiak Sciences has a fifty-two week low of $8.29 and a fifty-two week high of $47.84. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -9.87 and a beta of 2.21.

Kodiak Sciences (NASDAQ:KOD) last announced 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). As a group, analysts expect that Kodiak Sciences will post -3.74 EPS for the current year.

Institutional Trading of Kodiak Sciences

Large investors have recently made changes to their positions in the company. Westfuller Advisors LLC bought a new position in Kodiak Sciences during the first quarter worth about $26,000. V Square Quantitative Management LLC acquired a new stake in shares of Kodiak Sciences during the first quarter worth about $26,000. EverSource Wealth Advisors LLC raised its position in shares of Kodiak Sciences by 1,221.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock worth $28,000 after purchasing an additional 916 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Kodiak Sciences during the 4th quarter valued at about $29,000. Finally, Headlands Technologies LLC lifted its holdings in shares of Kodiak Sciences by 256.4% during the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock valued at $30,000 after purchasing an additional 5,815 shares in the last quarter. 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.