Kodiak Sciences (NASDAQ:KOD) Upgraded to “Buy” at HC Wainwright

Kodiak Sciences (NASDAQ:KOD) was upgraded by research analysts at HC Wainwright from a “neutral” rating to a “buy” rating in a report released on Tuesday, MarketBeat reports. The firm currently has a $24.00 price objective on the stock, up from their prior price objective of $5.00. HC Wainwright’s price target suggests a potential upside of 29.80% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Barclays upgraded Kodiak Sciences from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $7.00 to $17.00 in a report on Thursday, September 25th. Wall Street Zen downgraded shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Lifesci Capital began coverage on Kodiak Sciences in a report on Thursday, October 23rd. They set an “outperform” rating and a $40.00 price objective for the company. Jefferies Financial Group started coverage on Kodiak Sciences in a research note on Monday, September 22nd. They set a “buy” rating and a $15.00 price target for the company. Finally, JPMorgan Chase & Co. raised Kodiak Sciences from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $15.00 to $24.00 in a research note on Friday, October 24th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.33.

Kodiak Sciences Price Performance

Shares of KOD opened at $18.49 on Tuesday. The company has a 50-day moving average of $14.31 and a two-hundred day moving average of $8.60. The stock has a market cap of $976.64 million, a price-to-earnings ratio of -4.87 and a beta of 2.88. Kodiak Sciences has a one year low of $1.92 and a one year high of $21.17.

Kodiak Sciences (NASDAQ:KOD) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.02). Analysts anticipate that Kodiak Sciences will post -3.45 earnings per share for the current year.

Institutional Investors Weigh In On Kodiak Sciences

Several large investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. boosted its position in Kodiak Sciences by 55.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,055,707 shares of the company’s stock valued at $7,668,000 after buying an additional 730,000 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Kodiak Sciences by 1.2% in the second quarter. Acadian Asset Management LLC now owns 1,969,876 shares of the company’s stock valued at $7,343,000 after acquiring an additional 23,742 shares during the last quarter. Vanguard Group Inc. grew its position in Kodiak Sciences by 7.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,950,292 shares of the company’s stock worth $31,926,000 after acquiring an additional 127,991 shares during the last quarter. ICONIQ Capital LLC increased its holdings in Kodiak Sciences by 24.6% during the 1st quarter. ICONIQ Capital LLC now owns 1,266,563 shares of the company’s stock valued at $3,559,000 after purchasing an additional 249,699 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in Kodiak Sciences by 90.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 685,198 shares of the company’s stock valued at $1,922,000 after purchasing an additional 324,722 shares during the last quarter. Institutional investors own 89.06% of the company’s stock.

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.