Kodiak Sciences Inc. (NASDAQ:KOD) Given Average Rating of “Moderate Buy” by Brokerages

Kodiak Sciences Inc. (NASDAQ:KOD) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $48.1429.

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kodiak Sciences in a research note on Friday, July 10th. Wall Street Zen lowered shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. JPMorgan Chase & Co. lifted their price objective 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. HC Wainwright reaffirmed a “buy” rating and set a $58.00 price objective on shares of Kodiak Sciences in a research report on Monday, August 17th. Finally, Chardan Capital upgraded shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $61.00 in a research note on Monday, May 11th.

Kodiak Sciences Price Performance

Shares of NASDAQ KOD opened at $37.72 on Monday. The company has a market cap of $2.37 billion, a price-to-earnings ratio of -9.00 and a beta of 2.21. The stock’s 50-day moving average is $40.25 and its two-hundred day moving average is $36.10. Kodiak Sciences has a 1-year low of $8.29 and a 1-year high of $47.84.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). Equities research analysts anticipate that Kodiak Sciences will post -3.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KOD. GSA Capital Partners LLP purchased a new position in shares of Kodiak Sciences during the second quarter worth about $1,072,000. California State Teachers Retirement System lifted its holdings in shares of Kodiak Sciences by 1,358.9% in the 1st quarter. California State Teachers Retirement System now owns 29,396 shares of the company’s stock valued at $1,121,000 after purchasing an additional 27,381 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Kodiak Sciences by 31.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 120,629 shares of the company’s stock valued at $4,598,000 after purchasing an additional 29,121 shares during the period. Algert Global LLC boosted its position in shares of Kodiak Sciences by 26.1% in the 2nd quarter. Algert Global LLC now owns 186,476 shares of the company’s stock valued at $7,265,000 after purchasing an additional 38,546 shares during the period. Finally, Swiss National Bank acquired a new stake in shares of Kodiak Sciences in the 1st quarter valued at about $2,188,000. 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.