Kodiak Sciences (NASDAQ:KOD) Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Kodiak Sciences from “Sell” to “Hold.” Other analysts are more positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $109.
• Recent analyst targets ranged from $103 at Goldman Sachs to $150 at UBS; HC Wainwright and Lifesci Capital also raised their targets and maintained Buy or Outperform ratings.
• Kodiak reported quarterly EPS of -$1.05, slightly better than the -$1.06 consensus estimate. Insiders bought about 2.19 million shares over the past three months, and insiders own 44.4% of the stock.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other equities analysts also recently weighed in on KOD. Jefferies Financial Group reaffirmed a "buy" rating and set a $112.00 target price on shares of Kodiak Sciences in a research note on Monday, September 28th. HC Wainwright lifted their target price on shares of Kodiak Sciences from $96.00 to $126.00 and gave the company a "buy" rating in a report on Monday, October 12th. The Goldman Sachs Group initiated coverage on Kodiak Sciences in a research report on Wednesday, September 30th. They issued a "neutral" rating and a $103.00 price target on the stock. Lifesci Capital upped their price target on Kodiak Sciences from $85.00 to $145.00 and gave the stock an "outperform" rating in a research note on Monday, September 28th. Finally, UBS Group raised their price objective on Kodiak Sciences from $120.00 to $150.00 and gave the company a "buy" rating in a research report on Friday. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $109.00.

Kodiak Sciences Trading Up 2.7%

KOD opened at $111.19 on Friday. The stock has a fifty day simple moving average of $76.72 and a two-hundred day simple moving average of $45.75. The company has a market cap of $6.99 billion, a price-to-earnings ratio of -27.25 and a beta of 2.02. Kodiak Sciences has a 12-month low of $18.15 and a 12-month high of $112.79.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last announced its earnings results on Thursday, November 12th. The company reported ($1.05) EPS for the quarter, beating analysts' consensus estimates of ($1.06) by $0.01. On average, analysts predict that Kodiak Sciences will post -3.97 EPS for the current year.

Insider Transactions at Kodiak Sciences

In other news, Director Bros. Advisors Lp Baker bought 807,840 shares of the firm's stock in a transaction on Monday, September 28th. The stock was acquired at an average cost of $72.57 per share, with a total value of $58,624,948.80. Following the completion of the acquisition, the director owned 19,121,134 shares of the company's stock, valued at approximately $1,387,620,694.38. This represents a 4.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought 2,188,845 shares of company stock valued at $181,326,862 over the last three months. 44.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kodiak Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KOD. Marshall Wace LLP purchased a new stake in shares of Kodiak Sciences during the third quarter valued at $9,584,000. Empowered Funds LLC purchased a new position in Kodiak Sciences in the 3rd quarter worth about $746,000. Voya Investment Management LLC raised its position in Kodiak Sciences by 22.1% in the 3rd quarter. Voya Investment Management LLC now owns 30,905 shares of the company's stock worth $2,930,000 after buying an additional 5,587 shares during the last quarter. Cibc World Market Inc. bought a new position in Kodiak Sciences during the 3rd quarter valued at about $477,000. Finally, Edgestream Partners L.P. bought a new position in Kodiak Sciences during the 3rd quarter valued at about $1,499,000. 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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