Kodiak Sciences (NASDAQ:KOD) Price Target Raised to $150.00

Key Points

• UBS raised its price target on Kodiak Sciences to $150 from $120 and maintained a Buy rating, implying about 39% upside from the stock’s reported price.
• Analyst views are mixed: MarketBeat reports a Moderate Buy consensus and an average target of $109, with six Buy, one Hold, and one Sell rating.
• Insiders purchased about 2.19 million shares worth $181.3 million over the past 90 days; insiders own 44.4% of the stock.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) had its price target raised by UBS Group from $120.00 to $150.00 in a report released on Friday, Benzinga reports. The firm currently has a "buy" rating on the stock. UBS Group's price objective would suggest a potential upside of 38.92% from the stock's current price.

Several other brokerages have also weighed in on KOD. The Goldman Sachs Group began coverage on Kodiak Sciences in a report on Wednesday, September 30th. They set a "neutral" rating and a $103.00 price objective for the company. Jefferies Financial Group restated a "buy" rating and issued a $112.00 target price on shares of Kodiak Sciences in a research note on Monday, September 28th. JPMorgan Chase & Co. upped their price target on Kodiak Sciences from $56.00 to $66.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. HC Wainwright upped their price target on Kodiak Sciences from $96.00 to $126.00 and gave the company a "buy" rating in a research report on Monday, October 12th. Finally, Wall Street Zen upgraded Kodiak Sciences from a "strong sell" rating to a "sell" rating in a research note on Sunday, October 4th. 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.com, Kodiak Sciences presently has a consensus rating of "Moderate Buy" and an average price target of $109.00.

Kodiak Sciences Stock Performance

KOD traded down $0.27 during midday trading on Friday, reaching $107.98. The company had a trading volume of 211,276 shares, compared to its average volume of 1,116,755. Kodiak Sciences has a 12-month low of $18.15 and a 12-month high of $112.31. The business has a 50-day moving average price of $75.22 and a two-hundred day moving average price of $45.32. The stock has a market cap of $6.79 billion, a PE ratio of -25.70 and a beta of 2.02.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last issued its quarterly earnings results on Thursday, November 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.01. On average, research analysts anticipate that Kodiak Sciences will post -3.97 earnings per share for the current year.

Insiders Place Their Bets

In other Kodiak Sciences news, Director Bros. Advisors Lp Baker bought 807,840 shares of the stock in a transaction on Monday, September 28th. The shares were 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 $1,387,620,694.38. The trade was a 4.41% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 2,188,845 shares of company stock valued at $181,326,862. 44.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kodiak Sciences

A number of large investors have recently made changes to their positions in the stock. Arizona State Retirement System boosted its stake in Kodiak Sciences by 6.9% in the 2nd quarter. Arizona State Retirement System now owns 8,533 shares of the company's stock worth $332,000 after purchasing an additional 554 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Kodiak Sciences by 94.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,927 shares of the company's stock valued at $73,000 after buying an additional 936 shares in the last quarter. KBC Group NV bought a new stake in shares of Kodiak Sciences during the first quarter valued at about $39,000. Sterling Capital Management LLC increased its position in shares of Kodiak Sciences by 850.0% during the third quarter. Sterling Capital Management LLC now owns 1,311 shares of the company's stock valued at $124,000 after buying an additional 1,173 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Kodiak Sciences by 15.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,468 shares of the company's stock valued at $1,045,000 after buying an additional 1,509 shares during the period. 89.06% of the stock is owned by institutional investors.

Kodiak Sciences Company Profile

Kodiak Sciences is a clinical-stage biopharmaceutical company focused on developing treatments for retinal and other eye diseases. The company's research centers on therapies designed to address conditions involving damage to the retina and vision loss. Kodiak's technology platform combines therapeutic antibodies with a biopolymer to create antibody biopolymer conjugates, which are designed to provide sustained treatment effects. Its development programs have included KSI-301, an investigational therapy targeting vascular endothelial growth factor (VEGF) for retinal diseases.

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