Kodiak Sciences (NASDAQ:KOD) Hits New 52-Week High – Still a Buy?

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $46.67 and last traded at $44.6270, with a volume of 270440 shares trading hands. The stock had previously closed at $43.11.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on KOD shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Kodiak Sciences in a research note on Thursday, January 22nd. UBS Group upped their price objective on Kodiak Sciences from $50.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Finally, HC Wainwright reissued a “buy” rating and set a $58.00 target price (up from $38.00) on shares of Kodiak Sciences in a research report on Friday, March 27th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Kodiak Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $35.43.

Kodiak Sciences Stock Up 7.4%

The firm has a 50 day moving average price of $28.82 and a two-hundred day moving average price of $24.43. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of -10.43 and a beta of 2.39.

Kodiak Sciences (NASDAQ:KOD) last announced its earnings results on Tuesday, March 31st. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.02). Analysts predict that Kodiak Sciences Inc. will post -3.45 earnings per share for the current year.

Institutional Trading of Kodiak Sciences

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its stake in shares of Kodiak Sciences by 1,221.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock valued at $28,000 after acquiring an additional 916 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Kodiak Sciences during the fourth quarter valued at about $29,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Kodiak Sciences during the fourth quarter valued at about $72,000. Strs Ohio acquired a new position in Kodiak Sciences in the fourth quarter worth about $87,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Kodiak Sciences in the fourth quarter worth about $119,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.