Kodiak Sciences Inc. (NASDAQ:KOD) Receives $28.29 Consensus PT from Brokerages

Kodiak Sciences Inc. (NASDAQ:KOD) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $28.2857.

KOD has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kodiak Sciences in a report on Thursday, January 22nd. HC Wainwright increased their target price on Kodiak Sciences from $26.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. JPMorgan Chase & Co. raised Kodiak Sciences from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $15.00 to $24.00 in a research report on Friday, October 24th. Finally, Chardan Capital reaffirmed a “neutral” rating and set a $14.00 price target on shares of Kodiak Sciences in a research report on Monday, November 17th.

Kodiak Sciences Price Performance

KOD stock opened at $23.04 on Thursday. Kodiak Sciences has a one year low of $1.92 and a one year high of $31.18. The firm has a 50 day simple moving average of $25.93 and a two-hundred day simple moving average of $17.86. The stock has a market cap of $1.22 billion, a PE ratio of -5.59 and a beta of 2.64.

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

Insiders Place Their Bets

In other Kodiak Sciences news, Director Bros. Advisors Lp Baker purchased 2,608,696 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were 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 owned 18,358,772 shares of the company’s stock, valued at approximately $422,251,756. The trade was a 16.56% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 45.90% of the company’s stock.

Hedge Funds Weigh In On Kodiak Sciences

A number of hedge funds have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. raised its position in shares of 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 purchasing an additional 730,000 shares during the period. Boone Capital Management LLC purchased a new stake in Kodiak Sciences in the 3rd quarter worth $11,719,000. Vanguard Group Inc. raised its holdings in Kodiak Sciences by 18.6% during the fourth quarter. Vanguard Group Inc. now owns 2,313,395 shares of the company’s stock valued at $64,683,000 after acquiring an additional 363,103 shares during the period. Bank of America Corp DE raised its holdings in Kodiak Sciences by 657.7% during the third quarter. Bank of America Corp DE now owns 309,071 shares of the company’s stock valued at $5,059,000 after acquiring an additional 268,281 shares during the period. Finally, Vestal Point Capital LP purchased a new position in shares of Kodiak Sciences in the third quarter valued at about $4,092,000. 89.06% of the stock is currently owned by institutional investors.

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.