Lifesci Capital Issues Positive Forecast for Kodiak Sciences (NASDAQ:KOD) Stock Price

Kodiak Sciences (NASDAQ:KOD) had its target price lifted by analysts at Lifesci Capital from $85.00 to $145.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Lifesci Capital’s target price would indicate a potential upside of 60.06% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. UBS Group raised their target price on shares of Kodiak Sciences from $80.00 to $120.00 and gave the company a “buy” rating in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Kodiak Sciences in a research report on Friday, July 10th. The Goldman Sachs Group assumed coverage on shares of Kodiak Sciences in a report on Thursday. They issued a “neutral” rating and a $36.00 price objective on the stock. HC Wainwright lifted their price objective on shares of Kodiak Sciences from $58.00 to $96.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Wall Street Zen downgraded shares of Kodiak Sciences from a “sell” rating to a “strong sell” rating in a research note on Saturday. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Kodiak Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $87.33.

Kodiak Sciences Trading Up 180.0%

KOD traded up $58.24 on Monday, hitting $90.59. 32,193,840 shares of the company were exchanged, compared to its average volume of 1,004,025. Kodiak Sciences has a twelve month low of $10.94 and a twelve month high of $95.69. The company has a market cap of $5.69 billion, a price-to-earnings ratio of -21.74 and a beta of 2.18. The firm has a 50-day moving average price of $38.31 and a two-hundred day moving average price of $37.34.

Kodiak Sciences (NASDAQ:KOD) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). Equities analysts expect that Kodiak Sciences will post -3.89 EPS for the current year.

Institutional Investors Weigh In On Kodiak Sciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new position in shares of Kodiak Sciences during the first quarter worth about $26,000. Westfuller Advisors LLC acquired a new stake in shares of Kodiak Sciences in the 1st quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its position in shares of Kodiak Sciences by 1,221.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock valued at $28,000 after purchasing an additional 916 shares during the period. KBC Group NV purchased a new position in Kodiak Sciences during the 1st quarter worth approximately $39,000. Finally, E Fund Management Co. Ltd. purchased a new position in Kodiak Sciences during the 2nd quarter worth approximately $228,000. 89.06% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Kodiak Sciences

Here are the key news stories impacting Kodiak Sciences this week:

• Positive Sentiment: Kodiak reported positive Phase 3 DAYBREAK results for Zenkuda (tabirafusp-ted/KSI-501) in wet age-related macular degeneration. The data indicate the candidate performed comparably with Regeneron’s established Eylea, supporting Kodiak’s plan to seek regulatory approval for Zenkuda. Kodiak Sciences Stock Pops 64% After Eye-Disease Drugs Pass Key Trial
• Positive Sentiment: The DAYBREAK outcome was described as a positive result for both Zenkuda and tabirafusp-ted in wet AMD, materially improving the company’s prospects in a large commercial market dominated by anti-VEGF treatments. The news drove substantial investor interest, with the stock reported to be up more than 440% over the past year. Kodiak Sciences Reports Positive Phase 3 DAYBREAK Results
• Positive Sentiment: HC Wainwright raised its Kodiak price target from $58 to $96 and assigned a “Buy” rating. The new target implies additional upside from the reported trading level, reflecting increased confidence in Zenkuda’s clinical and regulatory potential. HC Wainwright Raises Kodiak Sciences Price Target
• Neutral Sentiment: Goldman Sachs initiated research coverage of Kodiak Sciences. The available report does not specify the firm’s rating or price target, so the immediate investment implication is unclear. Kodiak Sciences Research Coverage Started at Goldman Sachs

Kodiak Sciences Company Profile

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.