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

Kodiak Sciences Inc. (NASDAQ:KOD) has received an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $28.2857.

KOD has been the subject of several research analyst reports. Chardan Capital reissued a “neutral” rating and issued a $14.00 price objective on shares of Kodiak Sciences in a research note on Monday, November 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Kodiak Sciences in a report on Thursday, January 22nd. HC Wainwright restated a “buy” rating and set a $38.00 price target on shares of Kodiak Sciences in a report on Tuesday, February 10th. Finally, UBS Group assumed coverage on shares of Kodiak Sciences in a research note on Wednesday, January 7th. They issued a “buy” rating and a $50.00 price objective on the stock.

Insider Activity

In other news, Director Bros. Advisors Lp Baker acquired 2,608,696 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was acquired at an average cost of $23.00 per share, for a total transaction of $60,000,008.00. Following the completion of the acquisition, the director owned 18,358,772 shares in the company, valued at approximately $422,251,756. The trade was a 16.56% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 45.90% of the company’s stock.

Institutional Investors Weigh In On Kodiak Sciences

A number of large investors have recently bought and sold shares of the business. Baker BROS. Advisors LP raised its holdings in Kodiak Sciences by 15.1% during the fourth quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company’s stock valued at $556,940,000 after buying an additional 2,608,696 shares in the last quarter. Braidwell LP bought a new stake in shares of Kodiak Sciences during the 4th quarter worth about $57,955,000. RTW Investments LP acquired a new position in shares of Kodiak Sciences during the 4th quarter valued at about $41,603,000. Janus Henderson Group PLC bought a new position in shares of Kodiak Sciences in the 4th quarter valued at approximately $27,950,000. Finally, Goldman Sachs Group Inc. lifted its holdings in Kodiak Sciences by 298.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,303,030 shares of the company’s stock worth $36,433,000 after purchasing an additional 976,254 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors.

Kodiak Sciences Stock Performance

NASDAQ KOD opened at $26.84 on Monday. The firm’s 50 day moving average price is $25.94 and its two-hundred day moving average price is $20.01. Kodiak Sciences has a twelve month low of $1.92 and a twelve month high of $31.18. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -6.51 and a beta of 2.61.

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.