Kodiak Sciences’ (KOD) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Kodiak Sciences (NASDAQ:KOD) in a report published on Tuesday,Benzinga reports. The brokerage currently has a $38.00 price target on the stock.

Other equities analysts have also recently issued research reports about the company. Lifesci Capital initiated coverage on Kodiak Sciences in a report on Thursday, October 23rd. They issued an “outperform” rating and a $40.00 target price for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Kodiak Sciences in a research report on Thursday, January 22nd. UBS Group initiated coverage on shares of Kodiak Sciences in a research report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price objective on the stock. Chardan Capital reissued a “neutral” rating and issued a $14.00 target price on shares of Kodiak Sciences in a research note on Monday, November 17th. Finally, JPMorgan Chase & Co. raised shares of Kodiak Sciences from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $15.00 to $24.00 in a research note on Friday, October 24th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.29.

Kodiak Sciences Stock Down 4.0%

Kodiak Sciences stock opened at $22.00 on Tuesday. The company’s 50-day moving average price is $25.95 and its 200-day moving average price is $18.22. The company has a market cap of $1.17 billion, a PE ratio of -5.34 and a beta of 2.64. Kodiak Sciences has a twelve month low of $1.92 and a twelve month high of $31.18.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($1.16) EPS for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.09). As a group, sell-side analysts expect that Kodiak Sciences will post -3.45 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Bros. Advisors Lp Baker purchased 2,608,696 shares of Kodiak Sciences stock in a transaction that occurred on Thursday, December 18th. The shares were bought at an average price of $23.00 per share, with a total value of $60,000,008.00. Following the purchase, the director directly owned 18,358,772 shares of the company’s stock, valued at approximately $422,251,756. This represents a 16.56% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 45.90% of the company’s stock.

Hedge Funds Weigh In On Kodiak Sciences

A number of hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its stake in shares of Kodiak Sciences by 1,221.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock valued at $28,000 after acquiring an additional 916 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Kodiak Sciences during the 4th quarter worth $29,000. Cerity Partners LLC increased its holdings in Kodiak Sciences by 7.4% during the 4th quarter. Cerity Partners LLC now owns 16,446 shares of the company’s stock worth $460,000 after purchasing an additional 1,139 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Kodiak Sciences during the 4th quarter valued at $72,000. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Kodiak Sciences by 21.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company’s stock worth $56,000 after buying an additional 2,691 shares during the period. 89.06% of the stock is currently owned by institutional investors.

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.