Kodiak Sciences (NASDAQ:KOD) Price Target Raised to $126.00

Kodiak Sciences (NASDAQ:KOD) had its price target boosted by HC Wainwright from $96.00 to $126.00 in a research note issued to investors on Monday morning, MarketBeat reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Kodiak Sciences’ FY2028 earnings at ($0.97) EPS, FY2029 earnings at $2.19 EPS and FY2030 earnings at $6.24 EPS.

KOD has been the subject of a number of other research reports. UBS Group lifted their price objective on Kodiak Sciences from $80.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, September 28th. JPMorgan Chase & Co. upped their target price on Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $103.00 price target on shares of Kodiak Sciences in a research note on Wednesday, September 30th. Lifesci Capital lifted their price target on Kodiak Sciences from $85.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, September 28th. Finally, Wall Street Zen upgraded Kodiak Sciences from a “strong sell” rating to a “sell” rating in a report on Sunday, October 4th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.71.

Kodiak Sciences Stock Down 11.5%

Shares of NASDAQ:KOD opened at $81.09 on Monday. The firm has a fifty day moving average of $51.74 and a two-hundred day moving average of $43.65. Kodiak Sciences has a 12-month low of $12.64 and a 12-month high of $104.00. The firm has a market capitalization of $5.10 billion, a P/E ratio of -19.35 and a beta of 2.03.

Kodiak Sciences (NASDAQ:KOD) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.09). Equities research analysts expect that Kodiak Sciences will post -3.97 earnings per share for the current fiscal year.

Insider Activity at Kodiak Sciences

In other Kodiak Sciences news, Director Bros. Advisors Lp Baker purchased 807,840 shares of the company’s stock in a transaction dated Monday, September 28th. The shares were bought at an average price of $72.57 per share, for a total transaction of $58,624,948.80. Following the purchase, the director directly owned 19,121,134 shares in the company, valued at $1,387,620,694.38. This trade represents a 4.41% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have acquired 1,941,755 shares of company stock worth $156,986,026. Corporate insiders own 44.40% of the company’s stock.

Institutional Investors Weigh In On Kodiak Sciences

A number of large investors have recently bought and sold shares of KOD. Baker BROS. Advisors LP raised its stake in shares of Kodiak Sciences by 15.1% in the 4th quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company’s stock valued at $556,940,000 after acquiring an additional 2,608,696 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Kodiak Sciences in the second quarter valued at about $161,113,000. Jupiter Topco LLC acquired a new stake in shares of Kodiak Sciences in the second quarter valued at about $59,507,000. Janus Henderson Group PLC increased its stake in shares of Kodiak Sciences by 32.5% in the first quarter. Janus Henderson Group PLC now owns 1,325,457 shares of the company’s stock worth $50,540,000 after purchasing an additional 325,457 shares during the period. Finally, ICONIQ Capital LLC bought a new position in shares of Kodiak Sciences in the second quarter worth about $49,345,000. 89.06% of the stock is currently owned by institutional investors.

About Kodiak Sciences

Kodiak Sciences Inc (NASDAQ: KOD) is a clinical-stage biopharmaceutical company focused on developing medicines for serious retinal diseases. The company’s research is centered on its Antibody Biopolymer Conjugate (ABC) platform, which is designed to combine antibody-based therapies with biopolymer technology to potentially extend the duration of treatment in the eye.

Kodiak’s lead programs have focused on ophthalmic diseases involving abnormal blood-vessel growth or leakage, including wet age-related macular degeneration, diabetic macular edema and retinal vein occlusion.