Kodiak Sciences (NASDAQ:KOD) Research Coverage Started at UBS Group

UBS Group began coverage on shares of Kodiak Sciences (NASDAQ:KOD) in a report published on Wednesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $50.00 target price on the stock.

Several other analysts also recently commented on KOD. JPMorgan Chase & Co. upgraded Kodiak Sciences from a “neutral” rating to an “overweight” rating and raised their target price for the company from $15.00 to $24.00 in a research note on Friday, October 24th. Jefferies Financial Group assumed coverage on Kodiak Sciences in a research report on Monday, September 22nd. They set a “buy” rating and a $15.00 price target for the company. Barclays raised shares of Kodiak Sciences from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $7.00 to $17.00 in a research report on Thursday, September 25th. Wall Street Zen lowered Kodiak Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Finally, Lifesci Capital assumed coverage on shares of Kodiak Sciences in a research report on Thursday, October 23rd. They issued an “outperform” rating and a $40.00 price target on the stock. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.57.

Kodiak Sciences Stock Up 4.1%

Shares of NASDAQ KOD opened at $27.72 on Wednesday. The company has a market capitalization of $1.47 billion, a PE ratio of -6.73 and a beta of 2.67. The firm has a fifty day simple moving average of $23.65 and a 200 day simple moving average of $14.81. Kodiak Sciences has a twelve month low of $1.92 and a twelve month high of $31.18.

Kodiak Sciences (NASDAQ:KOD) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($1.16) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.09). As a group, equities analysts expect that Kodiak Sciences will post -3.45 earnings per share for the current fiscal year.

Insider Transactions at Kodiak Sciences

In other Kodiak Sciences news, Director Bros. Advisors Lp Baker purchased 2,608,696 shares of the business’s stock in a transaction on Thursday, December 18th. The stock was acquired at an average cost of $23.00 per share, for a total transaction of $60,000,008.00. Following the completion of the transaction, the director directly owned 18,358,772 shares in the company, valued at approximately $422,251,756. This represents a 16.56% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 45.90% of the stock is currently owned by insiders.

Institutional Trading of Kodiak Sciences

Institutional investors have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC grew its stake in shares of Kodiak Sciences by 21.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company’s stock worth $56,000 after purchasing an additional 2,691 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Kodiak Sciences by 89.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,373 shares of the company’s stock worth $104,000 after buying an additional 3,009 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Kodiak Sciences by 6.3% during the second quarter. American Century Companies Inc. now owns 79,745 shares of the company’s stock valued at $297,000 after acquiring an additional 4,703 shares in the last quarter. Headlands Technologies LLC increased its stake in Kodiak Sciences by 256.4% during the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock valued at $30,000 after purchasing an additional 5,815 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its position in shares of Kodiak Sciences by 8.2% during the second quarter. Bridgeway Capital Management LLC now owns 101,900 shares of the company’s stock valued at $380,000 after acquiring an additional 7,700 shares in the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Company Profile

Kodiak Sciences, Inc is a clinical‐stage biopharmaceutical company headquartered in Palo Alto, California, that focuses on the discovery and development of novel therapies for retinal diseases. The company’s proprietary technology centers on antibody biopolymer conjugates (ABCs), which are designed to extend durability, enhance tissue penetration and improve the safety profile of existing therapeutic modalities. Kodiak’s research and development efforts target conditions such as wet age-related macular degeneration (wet AMD), diabetic macular edema (DME) and other serious ophthalmic disorders.

The lead product candidate in Kodiak’s pipeline is KSI-301, an anti-VEGF antibody biopolymer conjugate administered via intravitreal injection.