Brokerages Set Kodiak Sciences Inc. (NASDAQ:KOD) PT at $28.29

Kodiak Sciences Inc. (NASDAQ:KOD) has been given an average recommendation of “Moderate Buy” by the eight research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $28.2857.

KOD has been the topic of a number of research analyst reports. HC Wainwright lifted their price objective on Kodiak Sciences from $26.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Lifesci Capital began coverage on shares of Kodiak Sciences in a research report on Thursday, October 23rd. They issued an “outperform” rating and a $40.00 price objective on the stock. UBS Group started coverage on shares of Kodiak Sciences in a report on Wednesday, January 7th. They set a “buy” rating and a $50.00 target price for the company. JPMorgan Chase & Co. upgraded shares of Kodiak Sciences from a “neutral” rating to an “overweight” rating and lifted their target price for the stock 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 price target on shares of Kodiak Sciences in a research report on Monday, November 17th.

Kodiak Sciences Stock Up 5.5%

KOD opened at $24.30 on Thursday. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -5.90 and a beta of 2.64. Kodiak Sciences has a 52 week low of $1.92 and a 52 week high of $31.18. The business’s 50 day moving average is $25.98 and its two-hundred day moving average is $18.05.

Kodiak Sciences (NASDAQ:KOD) last announced 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 analysts expect that Kodiak Sciences will post -3.45 EPS for the current fiscal year.

Insider Activity

In related news, Director Bros. Advisors Lp Baker purchased 2,608,696 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was purchased at an average price of $23.00 per share, with a total value of $60,000,008.00. Following the completion of the transaction, the director owned 18,358,772 shares of the company’s stock, valued at approximately $422,251,756. This trade represents a 16.56% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 45.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kodiak Sciences

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in Kodiak Sciences by 12.0% in the fourth quarter. Geode Capital Management LLC now owns 897,692 shares of the company’s stock valued at $25,105,000 after purchasing an additional 96,252 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of Kodiak Sciences during the 4th quarter valued at about $367,000. EverSource Wealth Advisors LLC lifted its position in 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 acquiring an additional 916 shares in the last quarter. PSP Research LLC purchased a new position in Kodiak Sciences in the 4th quarter worth approximately $543,000. Finally, Profund Advisors LLC acquired a new stake in Kodiak Sciences in the fourth quarter valued at approximately $618,000. 89.06% of the stock is currently owned by hedge funds and other 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.