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

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) have received an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $35.4286.

A number of research analysts recently weighed in on KOD shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kodiak Sciences in a research report on Thursday, January 22nd. 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 report on Friday, March 27th. Finally, UBS Group raised their price objective on Kodiak Sciences from $50.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, March 27th.

Kodiak Sciences Stock Up 3.4%

KOD stock opened at $46.44 on Tuesday. Kodiak Sciences has a twelve month low of $2.81 and a twelve month high of $47.41. The firm has a market cap of $2.87 billion, a PE ratio of -10.75 and a beta of 2.39. The business has a 50 day moving average of $30.48 and a 200 day moving average of $25.22.

Kodiak Sciences (NASDAQ:KOD) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.02). On average, research analysts expect that Kodiak Sciences will post -3.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its position in Kodiak Sciences by 1,221.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock valued at $28,000 after buying an additional 916 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Kodiak Sciences in the 4th quarter worth $29,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Kodiak Sciences in the 4th quarter worth $72,000. Strs Ohio bought a new stake in shares of Kodiak Sciences in the 4th quarter worth $87,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Kodiak Sciences in the 4th quarter worth $119,000. 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.