Chardan Capital Reaffirms Neutral Rating for Kodiak Sciences (NASDAQ:KOD)

Kodiak Sciences (NASDAQ:KOD)‘s stock had its “neutral” rating reissued by equities researchers at Chardan Capital in a research report issued on Monday,Benzinga reports. They presently have a $14.00 price objective on the stock. Chardan Capital’s price objective would suggest a potential downside of 27.16% from the stock’s previous close.

KOD has been the subject of a number of other research reports. Wall Street Zen downgraded shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Lifesci Capital initiated coverage on shares of Kodiak Sciences in a research report on Thursday, October 23rd. They set an “outperform” rating and a $40.00 price target for the company. Jefferies Financial Group assumed coverage on shares of Kodiak Sciences in a research note on Monday, September 22nd. They set a “buy” rating and a $15.00 price target on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Kodiak Sciences in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upgraded Kodiak Sciences from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $15.00 to $24.00 in a report on Friday, October 24th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.67.

Kodiak Sciences Stock Down 3.1%

Shares of Kodiak Sciences stock opened at $19.22 on Monday. Kodiak Sciences has a fifty-two week low of $1.92 and a fifty-two week high of $22.14. The firm has a market cap of $1.02 billion, a PE ratio of -4.67 and a beta of 2.88. The business’s fifty day moving average is $15.53 and its two-hundred day moving average is $9.24.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($1.16) EPS for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.09). Equities research analysts anticipate that Kodiak Sciences will post -3.45 EPS for the current year.

Hedge Funds Weigh In On Kodiak Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. increased its position in shares of Kodiak Sciences by 55.1% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,055,707 shares of the company’s stock worth $7,668,000 after acquiring an additional 730,000 shares during the last quarter. Boone Capital Management LLC purchased a new position in Kodiak Sciences in the third quarter valued at about $11,719,000. Acadian Asset Management LLC grew its stake in Kodiak Sciences by 27.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,946,134 shares of the company’s stock valued at $5,454,000 after purchasing an additional 413,821 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Kodiak Sciences by 90.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 685,198 shares of the company’s stock worth $1,922,000 after purchasing an additional 324,722 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Kodiak Sciences by 657.7% in the 3rd quarter. Bank of America Corp DE now owns 309,071 shares of the company’s stock valued at $5,059,000 after purchasing an additional 268,281 shares in the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

Kodiak Sciences Company Profile

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.