Kodiak Sciences (NASDAQ:KOD) Hits New 12-Month High After Analyst Upgrade

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) reached a new 52-week high during trading on Monday after HC Wainwright raised their price target on the stock from $24.00 to $26.00. HC Wainwright currently has a buy rating on the stock. Kodiak Sciences traded as high as $21.48 and last traded at $21.9290, with a volume of 226737 shares changing hands. The stock had previously closed at $19.51.

Several other research analysts have also recently weighed in on the company. Wall Street Zen cut Kodiak Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Jefferies Financial Group assumed coverage on Kodiak Sciences in a report on Monday, September 22nd. They set a “buy” rating and a $15.00 price target for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kodiak Sciences in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised shares of Kodiak Sciences from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $15.00 to $24.00 in a research report on Friday, October 24th. Finally, Chardan Capital reiterated a “neutral” rating and issued a $14.00 target price on shares of Kodiak Sciences in a report on Monday. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Kodiak Sciences currently has an average rating of “Hold” and an average price target of $22.67.

Institutional Investors Weigh In On Kodiak Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. raised its stake in shares of Kodiak Sciences by 55.1% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,055,707 shares of the company’s stock worth $7,668,000 after buying an additional 730,000 shares during the period. Acadian Asset Management LLC increased its holdings in Kodiak Sciences by 1.2% in the 2nd quarter. Acadian Asset Management LLC now owns 1,969,876 shares of the company’s stock valued at $7,343,000 after purchasing an additional 23,742 shares during the last quarter. Vanguard Group Inc. lifted its stake in Kodiak Sciences by 7.0% during the third quarter. Vanguard Group Inc. now owns 1,950,292 shares of the company’s stock worth $31,926,000 after purchasing an additional 127,991 shares in the last quarter. ICONIQ Capital LLC grew its stake in shares of Kodiak Sciences by 24.6% in the first quarter. ICONIQ Capital LLC now owns 1,266,563 shares of the company’s stock valued at $3,559,000 after buying an additional 249,699 shares in the last quarter. Finally, Boone Capital Management LLC purchased a new stake in shares of Kodiak Sciences in the 3rd quarter valued at $11,719,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

Kodiak Sciences Price Performance

The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -5.12 and a beta of 2.88. The stock has a 50 day simple moving average of $15.15 and a two-hundred day simple moving average of $9.03.

Kodiak Sciences (NASDAQ:KOD) last issued its 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 Inc. will post -3.45 EPS for the current year.

Kodiak Sciences Company Profile

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, researches, develops, and commercializes therapeutics to treat retinal diseases. Its lead product candidate is tarcocimab tedromer (KSI-301), an anti-vascular endothelial growth factor antibody biopolymer that is in Phase IIb/III clinical study to treat wet age-related macular degeneration (AMD), as well as Phase III clinical study for the treatment of diabetic macular edema, naïve macular edema due to retinal vein occlusion, and non-proliferative diabetic retinopathy.