Kodiak Sciences Inc. (NASDAQ:KOD) Given Average Rating of “Moderate Buy” by Brokerages

Kodiak Sciences Inc. (NASDAQ:KOD) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $42.1429.

KOD has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $58.00 price objective (up from $38.00) on shares of Kodiak Sciences in a research note on Friday, March 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kodiak Sciences in a research note on Thursday, January 22nd. Chardan Capital raised shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $61.00 in a research note on Monday, May 11th. UBS Group raised their price objective on shares of Kodiak Sciences from $50.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, March 27th. Finally, Wall Street Zen raised shares of Kodiak Sciences from a “sell” rating to a “hold” rating in a research report on Saturday.

Kodiak Sciences Stock Performance

Shares of KOD stock opened at $37.02 on Friday. Kodiak Sciences has a 52-week low of $3.13 and a 52-week high of $47.84. The stock has a market cap of $2.32 billion, a PE ratio of -8.88 and a beta of 2.32. The firm’s 50 day moving average price is $36.42 and its two-hundred day moving average price is $28.43.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.01). As a group, sell-side analysts predict that Kodiak Sciences will post -3.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kodiak Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Westfuller Advisors LLC bought a new position in shares of Kodiak Sciences during the first quarter worth $26,000. V Square Quantitative Management LLC bought a new position in shares of Kodiak Sciences during the first quarter worth $26,000. EverSource Wealth Advisors LLC boosted its position 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 worth $28,000 after purchasing an additional 916 shares in the last quarter. KBC Group NV bought a new position in shares of Kodiak Sciences during the first quarter worth $39,000. Finally, GF Fund Management CO. LTD. bought a new position in shares of Kodiak Sciences during the fourth quarter worth $29,000. 89.06% of the stock is 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.