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

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) have been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $56.83.

KOD has been the subject of several recent research reports. Wall Street Zen cut shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. JPMorgan Chase & Co. upped their price objective on Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kodiak Sciences in a research note on Friday, July 10th. HC Wainwright reiterated a “buy” rating and issued a $58.00 target price on shares of Kodiak Sciences in a report on Thursday, September 17th. Finally, The Goldman Sachs Group began coverage on Kodiak Sciences in a research note on Thursday. They set a “neutral” rating and a $36.00 target price for the company.

Kodiak Sciences Stock Performance

Shares of KOD opened at $33.22 on Friday. The company’s 50-day simple moving average is $38.51 and its 200-day simple moving average is $37.30. Kodiak Sciences has a 1 year low of $10.94 and a 1 year high of $47.84. The stock has a market capitalization of $2.09 billion, a PE ratio of -7.93 and a beta of 2.18.

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

Hedge Funds Weigh In On Kodiak Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in KOD. BlackRock Inc. purchased a new stake in shares of Kodiak Sciences in the 2nd quarter valued at about $161,113,000. Baker BROS. Advisors LP boosted its position 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 purchasing an additional 2,608,696 shares during the period. Jupiter Topco LLC purchased a new position in Kodiak Sciences during the 2nd quarter worth approximately $59,507,000. ICONIQ Capital LLC purchased a new position in Kodiak Sciences during the 2nd quarter worth approximately $49,345,000. Finally, Bank of America Corp DE acquired a new position in Kodiak Sciences during the second quarter worth approximately $14,949,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

About Kodiak Sciences

Kodiak Sciences Inc (NASDAQ: KOD) is a biopharmaceutical company focused on developing therapies for retinal diseases and other conditions affecting the eye. The company’s research is centered on antibody biopolymer conjugates, a technology designed to extend the duration of action of biologic medicines in ocular tissues and potentially reduce the frequency of administration.

Its lead development program has been tarcocimab tedromer, also known as KSI-301, an anti-vascular endothelial growth factor (VEGF) therapy investigated for retinal vascular diseases, including diabetic macular edema, diabetic retinopathy and neovascular age-related macular degeneration.