Kodiak Sciences Inc. (NASDAQ:KOD) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $42.1429.

A number of research analysts recently commented on the company. 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 report on Monday, May 11th. Wall Street Zen upgraded Kodiak Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. UBS Group raised their price objective on Kodiak Sciences from $50.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Finally, HC Wainwright reissued 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 NASDAQ:KOD opened at $34.06 on Wednesday. The firm has a market capitalization of $2.13 billion, a PE ratio of -8.17 and a beta of 2.21. The business has a 50-day moving average of $39.30 and a two-hundred day moving average of $30.64. Kodiak Sciences has a 12 month low of $3.43 and a 12 month high of $47.84.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings results 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 anticipate that Kodiak Sciences will post -3.89 earnings per share for the current year.

Institutional Investors Weigh In On Kodiak Sciences

Institutional investors have recently added to or reduced their stakes in the company. Baker BROS. Advisors LP boosted its holdings 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 worth $556,940,000 after acquiring an additional 2,608,696 shares in the last quarter. Braidwell LP acquired a new position in shares of Kodiak Sciences in the 4th quarter worth approximately $57,955,000. RTW Investments LP bought a new stake in shares of Kodiak Sciences during the 4th quarter valued at $41,603,000. Janus Henderson Group PLC bought a new stake in shares of Kodiak Sciences during the 4th quarter valued at $27,950,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Kodiak Sciences by 298.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,303,030 shares of the company’s stock valued at $36,433,000 after acquiring an additional 976,254 shares during the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

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.