Kodiak Sciences (NASDAQ:KOD) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Kodiak Sciences (NASDAQ:KOD) from a hold rating to a sell rating in a report issued on Saturday.

KOD has been the topic of a number of other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Kodiak Sciences in a research report on Friday, July 10th. JPMorgan Chase & Co. lifted their price objective on Kodiak Sciences from $56.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Finally, Chardan Capital upgraded Kodiak Sciences from a “neutral” rating to a “buy” rating and upped their target price for the company from $14.00 to $61.00 in a research report on Monday, May 11th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Kodiak Sciences has an average rating of “Moderate Buy” and an average target price of $48.14.

Kodiak Sciences Stock Up 3.4%

NASDAQ KOD opened at $41.35 on Friday. The company has a market capitalization of $2.59 billion, a P/E ratio of -9.87 and a beta of 2.21. Kodiak Sciences has a 12-month low of $8.29 and a 12-month high of $47.84. The firm has a 50-day moving average price of $39.10 and a two-hundred day moving average price of $34.95.

Kodiak Sciences (NASDAQ:KOD) last announced its earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). Equities analysts expect that Kodiak Sciences will post -3.74 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KOD. Westfuller Advisors LLC acquired a new stake in shares of Kodiak Sciences in the 1st quarter valued at $26,000. V Square Quantitative Management LLC bought a new position in shares of Kodiak Sciences in the 1st quarter valued at $26,000. EverSource Wealth Advisors LLC raised its holdings in shares of Kodiak Sciences by 1,221.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock worth $28,000 after buying an additional 916 shares in the last quarter. KBC Group NV acquired a new position in shares of Kodiak Sciences during the 1st quarter worth $39,000. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Kodiak Sciences during the 4th quarter worth $29,000. 89.06% of the stock is owned by institutional investors.

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.