Kodiak Sciences Inc. (NASDAQ:KOD) Stock Rated “Moderate Buy” by Wall Street Brokerages

Kodiak Sciences Inc. (NASDAQ:KOD) has received a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $104.71.

Several equities research analysts recently issued reports on the company. Lifesci Capital boosted their price target on Kodiak Sciences from $85.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, September 28th. HC Wainwright increased their price target on Kodiak Sciences from $96.00 to $126.00 and gave the stock a “buy” rating in a research report on Monday. UBS Group raised their price objective 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 reaffirmed a “neutral” rating and issued a $103.00 price objective on shares of Kodiak Sciences in a report on Wednesday, September 30th. Finally, Weiss Ratings cut Kodiak Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 6th.

Insider Activity

In related news, Director Bros. Advisors Lp Baker bought 33,726 shares of Kodiak Sciences stock in a transaction dated Tuesday, September 29th. The shares were bought at an average cost of $85.05 per share, with a total value of $2,868,396.30. Following the acquisition, the director owned 20,191,214 shares in the company, valued at $1,717,262,750.70. This trade represents a 0.17% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders acquired 1,941,755 shares of company stock worth $156,986,026. Corporate insiders own 44.40% of the company’s stock.

Institutional Investors Weigh In On Kodiak Sciences

Several institutional investors and hedge funds have recently bought and sold shares of the company. Baker BROS. Advisors LP raised its position in Kodiak Sciences by 15.1% during the fourth 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 in the last quarter. BlackRock Inc. bought a new stake in Kodiak Sciences during the second quarter worth $161,113,000. Jupiter Topco LLC acquired a new stake in shares of Kodiak Sciences in the 2nd quarter valued at $59,507,000. Janus Henderson Group PLC boosted its holdings in shares of Kodiak Sciences by 32.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,325,457 shares of the company’s stock valued at $50,540,000 after purchasing an additional 325,457 shares in the last quarter. Finally, ICONIQ Capital LLC acquired a new stake in shares of Kodiak Sciences in the 2nd quarter valued at $49,345,000. Institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Stock Down 0.6%

Shares of NASDAQ:KOD opened at $99.26 on Tuesday. The company’s 50 day moving average price is $50.02 and its two-hundred day moving average price is $42.87. Kodiak Sciences has a 12-month low of $10.94 and a 12-month high of $104.00. The firm has a market cap of $6.24 billion, a PE ratio of -23.69 and a beta of 2.03.

Kodiak Sciences (NASDAQ:KOD) last announced its earnings results on Thursday, August 13th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.09). On average, research analysts expect that Kodiak Sciences will post -3.97 EPS for the current year.

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.