Kodiak Sciences (NASDAQ:KOD) Stock Rating Upgraded by Wall Street Zen

Kodiak Sciences (NASDAQ:KOD) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Friday.

KOD has been the subject of a number of other research reports. Barclays upgraded Kodiak Sciences from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $7.00 to $17.00 in a report on Thursday. HC Wainwright boosted their price objective on shares of Kodiak Sciences from $3.00 to $5.00 and gave the company a “neutral” rating in a research report on Monday, August 18th. Jefferies Financial Group assumed coverage on shares of Kodiak Sciences in a research report on Monday, September 22nd. They set a “buy” rating and a $15.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Kodiak Sciences from an “underweight” rating to a “neutral” rating and set a $15.00 target price for the company in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Kodiak Sciences presently has a consensus rating of “Hold” and an average price target of $13.00.

Kodiak Sciences Stock Performance

Shares of Kodiak Sciences stock opened at $15.80 on Friday. Kodiak Sciences has a 52-week low of $1.92 and a 52-week high of $19.39. The stock has a market capitalization of $834.56 million, a price-to-earnings ratio of -4.16 and a beta of 2.45. The company’s 50 day moving average price is $9.41 and its 200-day moving average price is $5.61.

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

Institutional Investors Weigh In On Kodiak Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of KOD. Adage Capital Partners GP L.L.C. boosted its position in Kodiak Sciences by 55.1% during the 2nd 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 acquiring an additional 730,000 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Kodiak Sciences by 1.2% during the second quarter. Acadian Asset Management LLC now owns 1,969,876 shares of the company’s stock worth $7,343,000 after buying an additional 23,742 shares in the last quarter. ICONIQ Capital LLC increased its holdings in Kodiak Sciences by 24.6% in the 1st quarter. ICONIQ Capital LLC now owns 1,266,563 shares of the company’s stock worth $3,559,000 after acquiring an additional 249,699 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Kodiak Sciences by 90.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 685,198 shares of the company’s stock worth $1,922,000 after acquiring an additional 324,722 shares in the last quarter. Finally, Nantahala Capital Management LLC boosted its stake in Kodiak Sciences by 11.3% during the 2nd quarter. Nantahala Capital Management LLC now owns 590,884 shares of the company’s stock worth $2,204,000 after purchasing an additional 60,171 shares during the last quarter. 89.06% of the stock is owned by 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.