Analysts Set Kodiak Sciences Inc. (NASDAQ:KOD) Price Target at $45.89

Kodiak Sciences Inc. (NASDAQ:KODGet Rating) has been assigned a consensus rating of “Hold” from the nine brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $42.56.

A number of equities research analysts recently commented on KOD shares. JPMorgan Chase & Co. lowered Kodiak Sciences from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $90.00 to $21.00 in a research report on Thursday, February 24th. The Goldman Sachs Group began coverage on Kodiak Sciences in a research note on Friday, February 11th. They issued a “buy” rating and a $70.00 target price for the company. Morgan Stanley reduced their price target on shares of Kodiak Sciences from $17.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Roth Capital lowered their price objective on shares of Kodiak Sciences from $149.00 to $75.00 in a research report on Monday, February 28th. Finally, Truist Financial reduced their target price on shares of Kodiak Sciences from $35.00 to $10.00 in a research report on Wednesday.

KOD opened at $6.96 on Friday. The firm has a market cap of $361.47 million, a price-to-earnings ratio of -1.35 and a beta of 1.92. The firm’s 50-day simple moving average is $21.99 and its 200-day simple moving average is $67.52. Kodiak Sciences has a twelve month low of $6.81 and a twelve month high of $26.39.

In other Kodiak Sciences news, Director Bros. Advisors Lp Baker bought 133,414 shares of Kodiak Sciences stock in a transaction on Friday, January 21st. The shares were purchased at an average cost of $56.80 per share, for a total transaction of $7,577,915.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Victor Perlroth sold 1,000,000 shares of the stock in a transaction dated Thursday, February 24th. The stock was sold at an average price of $9.20, for a total value of $9,200,000.00. The disclosure for this sale can be found here. Insiders bought a total of 1,093,818 shares of company stock worth $60,465,648 over the last 90 days. 39.70% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP bought a new position in shares of Kodiak Sciences during the 1st quarter worth approximately $258,000. Marshall Wace North America L.P. bought a new position in Kodiak Sciences in the first quarter valued at $73,000. Morgan Stanley increased its stake in Kodiak Sciences by 132.0% in the 2nd quarter. Morgan Stanley now owns 276,550 shares of the company’s stock valued at $25,719,000 after buying an additional 157,325 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in Kodiak Sciences by 5.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 21,773 shares of the company’s stock worth $2,025,000 after buying an additional 1,120 shares in the last quarter. Finally, Virginia Retirement Systems ET AL boosted its stake in shares of Kodiak Sciences by 8.6% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 3,800 shares of the company’s stock worth $365,000 after buying an additional 300 shares during the last quarter. 87.85% of the stock is currently owned by institutional investors and hedge funds.

Kodiak Sciences Company Profile (Get Rating)

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, researches, develops, and commercializes therapeutics to treat retinal diseases. Its lead product candidate is KSI-301, an anti-vascular endothelial growth factor antibody biopolymer that is in Phase IIb/III clinical study to treat wet age-related macular degeneration (AMD), as well as for the treatment of diabetic macular edema, naïve macular edema due to retinal vein occlusion, and non-proliferative diabetic retinopathy.

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