Kodiak Sciences Inc. (NASDAQ:KOD) Receives $26.57 Average PT from Brokerages

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) have been given a consensus rating of “Moderate Buy” by the eight research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $26.5714.

A number of research firms have issued reports on KOD. Lifesci Capital began coverage on Kodiak Sciences in a report on Thursday, October 23rd. They issued an “outperform” rating and a $40.00 target price on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Kodiak Sciences in a research report on Wednesday, October 8th. UBS Group started coverage on shares of Kodiak Sciences in a research report on Wednesday, January 7th. They set a “buy” rating and a $50.00 target price on the stock. Wall Street Zen cut shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Finally, HC Wainwright raised their price target on shares of Kodiak Sciences from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, November 17th.

Insider Buying and Selling at Kodiak Sciences

In other news, Director Bros. Advisors Lp Baker bought 2,608,696 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The shares were acquired at an average cost of $23.00 per share, with a total value of $60,000,008.00. Following the completion of the transaction, the director directly owned 18,358,772 shares in the company, valued at $422,251,756. This represents a 16.56% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 45.90% of the company’s stock.

Institutional Trading of Kodiak Sciences

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

Kodiak Sciences Trading Up 0.9%

NASDAQ:KOD opened at $28.32 on Friday. The firm has a market capitalization of $1.50 billion, a PE ratio of -6.87 and a beta of 2.67. Kodiak Sciences has a 1 year low of $1.92 and a 1 year high of $31.18. The firm’s fifty day simple moving average is $24.05 and its 200 day simple moving average is $15.32.

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

About Kodiak Sciences

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.