Kodiak Sciences (NASDAQ:KOD) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Kodiak Sciences (NASDAQ:KOD) in a report released on Tuesday,Benzinga reports. The firm currently has a $38.00 price objective on the stock.

Several other research firms have also issued reports on KOD. JPMorgan Chase & Co. upgraded shares of Kodiak Sciences from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $15.00 to $24.00 in a report on Friday, October 24th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Kodiak Sciences in a research report on Thursday, January 22nd. Chardan Capital reissued a “neutral” rating and set a $14.00 target price on shares of Kodiak Sciences in a research note on Monday, November 17th. UBS Group began coverage on shares of Kodiak Sciences in a research report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price target on the stock. Finally, Lifesci Capital initiated coverage on Kodiak Sciences in a report on Thursday, October 23rd. They set an “outperform” rating and a $40.00 price target for the company. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Kodiak Sciences presently has an average rating of “Moderate Buy” and an average target price of $28.29.

Kodiak Sciences Trading Down 4.0%

Shares of KOD opened at $23.32 on Tuesday. The company has a market capitalization of $1.24 billion, a PE ratio of -5.66 and a beta of 2.64. Kodiak Sciences has a 12 month low of $1.92 and a 12 month high of $31.18. The stock’s 50-day moving average price is $26.01 and its two-hundred day moving average price is $18.16.

Kodiak Sciences (NASDAQ:KOD) last issued its quarterly earnings results 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). Equities research analysts predict that Kodiak Sciences will post -3.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bros. Advisors Lp Baker purchased 2,608,696 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was purchased at an average cost of $23.00 per share, with a total value of $60,000,008.00. Following the completion of the purchase, the director owned 18,358,772 shares in the company, valued at approximately $422,251,756. This trade represents a 16.56% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 45.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KOD. EverSource Wealth Advisors LLC grew its stake in 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 acquiring an additional 916 shares during the period. GF Fund Management CO. LTD. acquired a new stake in Kodiak Sciences in the 4th quarter valued at $29,000. 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. Vanguard Personalized Indexing Management LLC raised its holdings in Kodiak Sciences by 21.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company’s stock worth $56,000 after buying an additional 2,691 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Kodiak Sciences in the fourth quarter valued at $72,000. 89.06% of the stock is 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.