Kodiak Sciences (NASDAQ:KOD) Upgraded to “Buy” at HC Wainwright

HC Wainwright upgraded shares of Kodiak Sciences (NASDAQ:KOD) from a neutral rating to a buy rating in a research note released on Tuesday, Marketbeat Ratings reports. The brokerage currently has $24.00 price target on the stock, up from their prior price target of $5.00.

A number of other research firms have also weighed in on KOD. Barclays raised shares of Kodiak Sciences from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $7.00 to $17.00 in a research note on Thursday, September 25th. Chardan Capital restated a “neutral” rating and issued a $14.00 price objective on shares of Kodiak Sciences in a report on Monday, October 6th. Wall Street Zen downgraded shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Kodiak Sciences in a research note on Wednesday, October 8th. Finally, Lifesci Capital assumed coverage on Kodiak Sciences in a report on Thursday, October 23rd. They issued an “outperform” rating and a $40.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.33.

Kodiak Sciences Stock Performance

KOD opened at $19.63 on Tuesday. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -5.17 and a beta of 2.88. The company has a fifty day moving average of $14.53 and a two-hundred day moving average of $8.71. Kodiak Sciences has a fifty-two week low of $1.92 and a fifty-two week high of $21.17.

Kodiak Sciences (NASDAQ:KOD) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.02). On average, equities research analysts forecast that Kodiak Sciences will post -3.45 earnings per share for the current year.

Institutional Investors Weigh In On Kodiak Sciences

Several hedge funds have recently modified their holdings of the company. Federated Hermes Inc. purchased a new stake in Kodiak Sciences in the 1st quarter valued at about $236,000. GSA Capital Partners LLP raised its holdings in Kodiak Sciences by 163.6% in the first quarter. GSA Capital Partners LLP now owns 205,833 shares of the company’s stock valued at $577,000 after acquiring an additional 127,748 shares in the last quarter. XTX Topco Ltd acquired a new stake in Kodiak Sciences during the first quarter valued at approximately $126,000. US Bancorp DE boosted its holdings in Kodiak Sciences by 131.7% in the first quarter. US Bancorp DE now owns 9,282 shares of the company’s stock worth $26,000 after purchasing an additional 5,276 shares during the period. Finally, Deutsche Bank AG lifted its holdings in Kodiak Sciences by 8.9% in the first quarter. Deutsche Bank AG now owns 73,564 shares of the company’s stock worth $207,000 after acquiring an additional 6,018 shares during the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

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.