Zacks Investment Research lowered shares of Kodiak Sciences (NYSE:KOD) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Kodiak Sciences Inc. operates as a clinical stage biopharmaceutical company. It specializes in novel therapeutics to treat chronic and retinal diseases. The company’s product candidates consists of KSI-301 for wet AMD, KSI-301 for diabetic eye disease, KSI-501 for DME and Uveitis, KSI-201 for treatment resistant wet AMD and KSI-401 for dry AMD which are in clinical stage. Kodiak Sciences Inc. is based in CA, United States. “

Separately, Chardan Capital began coverage on Kodiak Sciences in a report on Wednesday, February 20th. They issued a buy rating and a $22.50 price target for the company. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Kodiak Sciences presently has a consensus rating of Buy and an average target price of $19.13.

Shares of NYSE:KOD traded up $0.02 during trading hours on Wednesday, hitting $7.02. 803 shares of the company’s stock traded hands, compared to its average volume of 69,711. Kodiak Sciences has a 1 year low of $5.65 and a 1 year high of $11.10.

Kodiak Sciences (NYSE:KOD) last announced its quarterly earnings results on Thursday, March 28th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.05.

A number of institutional investors have recently bought and sold shares of KOD. Deutsche Bank AG acquired a new stake in Kodiak Sciences during the 4th quarter worth $87,000. Geode Capital Management LLC acquired a new position in Kodiak Sciences in the fourth quarter valued at $458,000. Perceptive Advisors LLC acquired a new position in Kodiak Sciences in the fourth quarter valued at $22,259,000. Pura Vida Investments LLC acquired a new position in Kodiak Sciences in the fourth quarter valued at $173,000. Finally, venBio Select Advisor LLC acquired a new position in Kodiak Sciences in the fourth quarter valued at $6,406,000.

About Kodiak Sciences

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, provides novel therapeutics to treat ophthalmic diseases. The company's lead product candidate is KSI-301, a vascular endothelial growth factor (VEGF)-biologic that is in Phase I clinical study to treat wet age-related macular degeneration (AMD) and diabetic retinopathy.

Further Reading: What causes a recession?

Get a free copy of the Zacks research report on Kodiak Sciences (KOD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Kodiak Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kodiak Sciences and related companies with MarketBeat.com's FREE daily email newsletter.