Brokerages Set Kodiak Sciences Inc. (NASDAQ:KOD) PT at $26.57

Kodiak Sciences Inc. (NASDAQ:KOD) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $26.5714.

Several research firms have recently weighed in on KOD. Chardan Capital restated a “neutral” rating and set a $14.00 price objective on shares of Kodiak Sciences in a research note on Monday, November 17th. UBS Group began coverage on Kodiak Sciences in a research report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. raised Kodiak Sciences from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $15.00 to $24.00 in a research report on Friday, October 24th. Lifesci Capital assumed coverage on Kodiak Sciences in a research note on Thursday, October 23rd. They set an “outperform” rating and a $40.00 target price for the company. Finally, HC Wainwright increased their price target on Kodiak Sciences from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, November 17th.

Insider Activity at Kodiak Sciences

In related news, Director Bros. Advisors Lp Baker acquired 2,608,696 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were bought at an average cost of $23.00 per share, with a total value of $60,000,008.00. Following the completion of the transaction, the director directly owned 18,358,772 shares of the company’s stock, valued at $422,251,756. This trade represents a 16.56% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 45.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Kodiak Sciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC raised its holdings in Kodiak Sciences by 21.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company’s stock valued at $56,000 after acquiring an additional 2,691 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Kodiak Sciences by 89.4% during the third quarter. BNP Paribas Financial Markets now owns 6,373 shares of the company’s stock worth $104,000 after purchasing an additional 3,009 shares during the period. American Century Companies Inc. lifted its holdings in Kodiak Sciences by 6.3% during the 2nd quarter. American Century Companies Inc. now owns 79,745 shares of the company’s stock worth $297,000 after purchasing an additional 4,703 shares during the last quarter. Headlands Technologies LLC boosted its stake in Kodiak Sciences by 256.4% in the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock valued at $30,000 after purchasing an additional 5,815 shares during the period. Finally, Bridgeway Capital Management LLC grew its holdings in Kodiak Sciences by 8.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 101,900 shares of the company’s stock valued at $380,000 after buying an additional 7,700 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Stock Down 6.9%

NASDAQ:KOD opened at $26.70 on Friday. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -6.48 and a beta of 2.67. Kodiak Sciences has a twelve month low of $1.92 and a twelve month high of $31.18. The stock’s 50 day moving average price is $24.46 and its two-hundred day moving average price is $15.49.

Kodiak Sciences (NASDAQ:KOD) last released 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). As a group, analysts anticipate that Kodiak Sciences will post -3.45 earnings per share for the current year.

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.