HC Wainwright Issues Positive Forecast for Kodiak Sciences (NASDAQ:KOD) Stock Price

Key Points

• HC Wainwright raised Kodiak Sciences’ price target to $126 from $96 and maintained a “buy” rating, implying approximately 26% upside from the reported share price.
• Analyst sentiment is generally positive: six analysts rate the stock a Buy, one a Hold and one a Sell, producing a “Moderate Buy” consensus and average target of $104.71.
• Kodiak shares opened at $99.87 after a sharp run-up, near their 12-month high of $104.00; the company remains unprofitable, reporting quarterly EPS of negative $1.05 versus a negative $0.96 estimate.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) had its price target lifted by analysts at HC Wainwright from $96.00 to $126.00 in a research report issued on Monday, Marketbeat reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's price objective would indicate a potential upside of 26.16% from the company's current price.

A number of other brokerages have also recently issued reports on KOD. Jefferies Financial Group reissued a "buy" rating and issued a $112.00 price objective on shares of Kodiak Sciences in a research note on Monday, September 28th. Weiss Ratings downgraded shares of Kodiak Sciences from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, October 6th. JPMorgan Chase & Co. lifted their target price on shares of Kodiak Sciences from $56.00 to $66.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of Kodiak Sciences from a "strong sell" rating to a "sell" rating in a research note on Sunday, October 4th. Finally, UBS Group upped their target price on shares of Kodiak Sciences from $80.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, September 28th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $104.71.

Kodiak Sciences Stock Performance

Shares of NASDAQ:KOD opened at $99.87 on Monday. The stock has a 50 day moving average of $48.83 and a 200 day moving average of $42.32. The company has a market cap of $6.28 billion, a PE ratio of -23.84 and a beta of 2.03. Kodiak Sciences has a 12-month low of $10.94 and a 12-month high of $104.00.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.09). Equities research analysts predict that Kodiak Sciences will post -3.97 earnings per share for the current fiscal year.

Insider Activity at Kodiak Sciences

In related news, Director Bros. Advisors Lp Baker acquired 807,840 shares of the company's stock in a transaction on Monday, September 28th. The stock was acquired at an average price of $72.57 per share, with a total value of $58,624,948.80. Following the acquisition, the director directly owned 19,121,134 shares of the company's stock, valued at approximately $1,387,620,694.38. This trade represents a 4.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders have bought 1,941,755 shares of company stock worth $156,986,026. 44.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kodiak Sciences

Large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Kodiak Sciences in the second quarter valued at $161,113,000. Baker BROS. Advisors LP increased its position in Kodiak Sciences by 15.1% in the fourth quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company's stock worth $556,940,000 after purchasing an additional 2,608,696 shares during the last quarter. Jupiter Topco LLC purchased a new stake in Kodiak Sciences during the second quarter valued at $59,507,000. ICONIQ Capital LLC purchased a new stake in Kodiak Sciences during the second quarter valued at $49,345,000. Finally, Bank of America Corp DE purchased a new stake in Kodiak Sciences during the second quarter valued at $14,949,000. 89.06% of the stock is owned by institutional investors.

About Kodiak Sciences

Kodiak Sciences Inc NASDAQ: KOD is a clinical-stage biopharmaceutical company focused on developing medicines for serious retinal diseases. The company's research is centered on its Antibody Biopolymer Conjugate (ABC) platform, which is designed to combine antibody-based therapies with biopolymer technology to potentially extend the duration of treatment in the eye.

Kodiak's lead programs have focused on ophthalmic diseases involving abnormal blood-vessel growth or leakage, including wet age-related macular degeneration, diabetic macular edema and retinal vein occlusion.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.