Kodiak Sciences (NASDAQ:KOD) Now Covered by Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Kodiak Sciences (NASDAQ:KOD) in a research report released on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $15.00 price target on the stock.

KOD has been the topic of several other research reports. HC Wainwright upped their price objective on Kodiak Sciences from $3.00 to $5.00 and gave the company a “neutral” rating in a research report on Monday, August 18th. JPMorgan Chase & Co. raised Kodiak Sciences from an “underweight” rating to a “neutral” rating and set a $15.00 price objective on the stock in a research report on Thursday, August 14th. Finally, Barclays upped their target price on Kodiak Sciences from $4.00 to $7.00 and gave the stock an “underweight” rating in a report on Thursday, August 14th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.50.

Kodiak Sciences Stock Up 57.5%

Shares of Kodiak Sciences stock opened at $15.01 on Monday. The stock’s fifty day moving average is $8.60 and its two-hundred day moving average is $5.31. The company has a market capitalization of $792.83 million, a PE ratio of -3.95 and a beta of 2.44. Kodiak Sciences has a 52 week low of $1.92 and a 52 week high of $16.30.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.02). As a group, research analysts anticipate that Kodiak Sciences will post -3.45 earnings per share for the current year.

Institutional Investors Weigh In On Kodiak Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. raised its stake in Kodiak Sciences by 55.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,055,707 shares of the company’s stock valued at $7,668,000 after buying an additional 730,000 shares during the last quarter. Acadian Asset Management LLC raised its stake in Kodiak Sciences by 1.2% in the second quarter. Acadian Asset Management LLC now owns 1,969,876 shares of the company’s stock valued at $7,343,000 after buying an additional 23,742 shares during the last quarter. ICONIQ Capital LLC raised its stake in Kodiak Sciences by 24.6% in the first quarter. ICONIQ Capital LLC now owns 1,266,563 shares of the company’s stock valued at $3,559,000 after buying an additional 249,699 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Kodiak Sciences by 90.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 685,198 shares of the company’s stock valued at $1,922,000 after buying an additional 324,722 shares during the last quarter. Finally, Nantahala Capital Management LLC raised its stake in Kodiak Sciences by 11.3% in the second quarter. Nantahala Capital Management LLC now owns 590,884 shares of the company’s stock valued at $2,204,000 after buying an additional 60,171 shares during the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

About Kodiak Sciences

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, researches, develops, and commercializes therapeutics to treat retinal diseases. Its lead product candidate is tarcocimab tedromer (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 Phase III clinical study for the treatment of diabetic macular edema, naïve macular edema due to retinal vein occlusion, and non-proliferative diabetic retinopathy.