Kodiak Sciences' (KOD) "Buy" Rating Reiterated at HC Wainwright

Key Points

• HC Wainwright reiterated its “Buy” rating on Kodiak Sciences and set a $58 price target, implying approximately 77% upside from the stock’s reported $32.77 price.
• Analyst sentiment is broadly positive, with six Buy ratings, one Hold, and one Sell; the consensus rating is “Moderate Buy” with an average target of $48.14.
• Kodiak reported a quarterly loss of $1.05 per share, missing the $0.96 consensus estimate, while institutional investors own a substantial 89.06% of the company.

Kodiak Sciences (NASDAQ:KOD - Get Free Report)'s stock had its "buy" rating restated by stock analysts at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They presently have a $58.00 price objective on the stock. HC Wainwright's target price indicates a potential upside of 76.99% from the stock's current price.

A number of other equities research analysts have also issued reports on the stock. 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 downgraded Kodiak Sciences from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Kodiak Sciences in a research report on Friday, July 10th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $48.14.

Kodiak Sciences Price Performance

NASDAQ KOD opened at $32.77 on Thursday. The company has a 50 day simple moving average of $39.57 and a 200-day simple moving average of $37.02. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -7.82 and a beta of 2.18. Kodiak Sciences has a 52-week low of $9.10 and a 52-week high of $47.84.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing analysts' consensus estimates of ($0.96) by ($0.09). On average, analysts predict that Kodiak Sciences will post -3.89 EPS for the current year.

Institutional Investors Weigh In On Kodiak Sciences

Institutional investors and hedge funds have recently modified their holdings of the business. Baker BROS. Advisors LP increased its position in Kodiak Sciences by 15.1% during the fourth quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company's stock worth $556,940,000 after buying an additional 2,608,696 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Kodiak Sciences in the second quarter worth about $161,113,000. Jupiter Topco LLC bought a new stake in shares of Kodiak Sciences during the 2nd quarter worth about $59,507,000. Janus Henderson Group PLC increased its holdings in shares of Kodiak Sciences by 32.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,325,457 shares of the company's stock valued at $50,540,000 after acquiring an additional 325,457 shares during the last quarter. Finally, ICONIQ Capital LLC acquired a new position in shares of Kodiak Sciences during the 2nd quarter valued at about $49,345,000. Institutional investors and hedge funds own 89.06% of the company's stock.

Kodiak Sciences Company Profile

Kodiak Sciences Inc NASDAQ: KOD is a biopharmaceutical company focused on developing therapies for retinal diseases and other conditions affecting the eye. The company's research is centered on antibody biopolymer conjugates, a technology designed to extend the duration of action of biologic medicines in ocular tissues and potentially reduce the frequency of administration.

Its lead development program has been tarcocimab tedromer, also known as KSI-301, an anti-vascular endothelial growth factor (VEGF) therapy investigated for retinal vascular diseases, including diabetic macular edema, diabetic retinopathy and neovascular age-related macular degeneration.

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