Kodiak Sciences Inc. (NASDAQ:KOD) Receives $42.14 Consensus Price Target from Brokerages

Kodiak Sciences Inc. (NASDAQ:KOD) has been given an average recommendation of “Moderate Buy” by the eight analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $42.1429.

KOD has been the topic of several analyst reports. Wall Street Zen upgraded Kodiak Sciences from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Chardan Capital upgraded Kodiak Sciences from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $61.00 in a research note on Monday, May 11th. UBS Group raised their price objective on Kodiak Sciences from $50.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, March 27th. Finally, HC Wainwright restated a “buy” rating and set a $58.00 price objective (up from $38.00) on shares of Kodiak Sciences in a research note on Friday, March 27th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of KOD. Baker BROS. Advisors LP raised its stake in Kodiak Sciences by 15.1% during the 4th quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company’s stock valued at $556,940,000 after acquiring an additional 2,608,696 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Kodiak Sciences by 18.6% during the 4th quarter. Vanguard Group Inc. now owns 2,313,395 shares of the company’s stock valued at $64,683,000 after purchasing an additional 363,103 shares during the period. Braidwell LP acquired a new position in shares of Kodiak Sciences during the 4th quarter valued at $57,955,000. Adage Capital Partners GP L.L.C. increased its position 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 valued at $7,668,000 after purchasing an additional 730,000 shares during the period. Finally, State Street Corp increased its position in shares of Kodiak Sciences by 108.1% during the 4th quarter. State Street Corp now owns 1,732,015 shares of the company’s stock valued at $48,427,000 after purchasing an additional 899,572 shares during the period. Institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Stock Performance

Kodiak Sciences stock opened at $34.06 on Wednesday. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -8.17 and a beta of 2.21. Kodiak Sciences has a fifty-two week low of $3.43 and a fifty-two week high of $47.84. The stock’s fifty day moving average is $39.30 and its two-hundred day moving average is $30.58.

Kodiak Sciences (NASDAQ:KOD) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.93) by ($0.01). As a group, sell-side analysts forecast that Kodiak Sciences will post -3.89 EPS for the current fiscal year.

About Kodiak Sciences

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.