Kodiak Sciences Inc. (NASDAQ:KOD) Receives $35.43 Consensus Price Target from Analysts

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $35.4286.

Several equities research analysts have commented on KOD shares. HC Wainwright reiterated a “buy” rating and set a $58.00 price objective (up from $38.00) on shares of Kodiak Sciences in a research note on Friday, March 27th. UBS Group boosted their price objective on Kodiak Sciences from $50.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Kodiak Sciences in a research note on Thursday, January 22nd.

Kodiak Sciences Trading Up 0.0%

NASDAQ:KOD opened at $45.21 on Tuesday. Kodiak Sciences has a 12 month low of $2.81 and a 12 month high of $47.84. The stock has a 50 day moving average of $31.85 and a two-hundred day moving average of $25.72. The firm has a market cap of $2.80 billion, a P/E ratio of -10.47 and a beta of 2.39.

Kodiak Sciences (NASDAQ:KOD) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.02). On average, research analysts forecast that Kodiak Sciences will post -3.65 earnings per share for the current year.

Institutional Investors Weigh In On Kodiak Sciences

Several large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in shares of Kodiak Sciences by 1,221.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock valued at $28,000 after purchasing an additional 916 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Kodiak Sciences in the fourth quarter valued at approximately $29,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Kodiak Sciences in the fourth quarter valued at approximately $72,000. Strs Ohio purchased a new stake in shares of Kodiak Sciences in the fourth quarter valued at approximately $87,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Kodiak Sciences in the fourth quarter valued at approximately $119,000. 89.06% of the stock is currently owned by hedge funds and other 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.