HC Wainwright Lifts Earnings Estimates for Kodiak Sciences

Kodiak Sciences Inc. (NASDAQ:KOD) – Research analysts at HC Wainwright boosted their FY2028 earnings estimates for shares of Kodiak Sciences in a note issued to investors on Monday, October 12th. HC Wainwright analyst M. Caufield now anticipates that the company will post earnings of ($0.97) per share for the year, up from their previous estimate of ($1.78). HC Wainwright currently has a “Buy” rating and a $126.00 target price on the stock. The consensus estimate for Kodiak Sciences’ current full-year earnings is ($3.97) per share. HC Wainwright also issued estimates for Kodiak Sciences’ FY2029 earnings at $2.19 EPS.

Several other research analysts have also recently issued reports on the company. Wall Street Zen raised Kodiak Sciences from a “strong sell” rating to a “sell” rating in a research report on Sunday, October 4th. Weiss Ratings lowered Kodiak Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 6th. UBS Group boosted their target price on Kodiak Sciences from $80.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, September 28th. The Goldman Sachs Group restated a “neutral” rating and set a $103.00 target price on shares of Kodiak Sciences in a research note on Wednesday, September 30th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $112.00 price target on shares of Kodiak Sciences in a report on Monday, September 28th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $104.71.

Kodiak Sciences Price Performance

Shares of NASDAQ KOD opened at $91.63 on Wednesday. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of -21.87 and a beta of 2.03. The business has a 50-day moving average of $50.99 and a two-hundred day moving average of $43.35. Kodiak Sciences has a 1 year low of $10.94 and a 1 year high of $104.00.

Kodiak Sciences (NASDAQ:KOD) last issued its earnings results on Thursday, August 13th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09).

Institutional Investors Weigh In On Kodiak Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP boosted its stake in Kodiak Sciences by 145.8% in the second quarter. Engineers Gate Manager LP now owns 29,537 shares of the company’s stock valued at $1,151,000 after acquiring an additional 17,520 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Kodiak Sciences by 112.6% during the second quarter. Squarepoint Ops LLC now owns 151,098 shares of the company’s stock worth $5,887,000 after purchasing an additional 80,042 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Kodiak Sciences by 6.9% during the second quarter. Arizona State Retirement System now owns 8,533 shares of the company’s stock worth $332,000 after purchasing an additional 554 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Kodiak Sciences during the second quarter worth about $232,000. Finally, Wellington Management Group LLP increased its position in shares of Kodiak Sciences by 81.9% during the second quarter. Wellington Management Group LLP now owns 793,613 shares of the company’s stock worth $30,919,000 after purchasing an additional 357,284 shares in the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Bros. Advisors Lp Baker bought 807,840 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The shares were purchased at an average cost of $72.57 per share, with a total value of $58,624,948.80. Following the transaction, the director directly owned 19,121,134 shares of the company’s stock, valued at approximately $1,387,620,694.38. This represents a 4.41% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have acquired 1,941,755 shares of company stock valued at $156,986,026. Corporate insiders own 44.40% of the company’s stock.

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.