Kodiak Sciences (NASDAQ:KOD) Stock Bumped Up to "Hold" by The Goldman Sachs Group

Key Points

• Goldman Sachs upgraded Kodiak Sciences to “Hold.” Analyst sentiment remains mixed, but the stock has an overall “Moderate Buy” consensus rating and an average target price of $56.83.
• Kodiak Sciences reported a quarterly loss of $1.05 per share, missing the consensus estimate of a $0.96 loss; analysts expect a full-year loss of $3.89 per share.
• KOD opened at $33.22, with a market capitalization of about $2.09 billion and a 52-week range of $10.94 to $47.84. Institutional investors own approximately 89.06% of the company’s shares.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) was upgraded by The Goldman Sachs Group to a "hold" rating in a research report issued to clients and investors on Thursday, Zacks reports.

A number of other research firms have also recently commented on KOD. HC Wainwright reissued a "buy" rating and set a $58.00 target price on shares of Kodiak Sciences in a research report on Thursday, September 17th. JPMorgan Chase & Co. raised their price target on shares of Kodiak Sciences from $56.00 to $66.00 and gave the company an "overweight" rating in a report on Monday, August 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Kodiak Sciences in a research note on Friday, July 10th. Finally, Wall Street Zen lowered shares of Kodiak Sciences from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Five equities 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's stock. Based on data from MarketBeat, Kodiak Sciences presently has an average rating of "Moderate Buy" and a consensus target price of $56.83.

Kodiak Sciences Stock Performance

KOD stock opened at $33.22 on Thursday. Kodiak Sciences has a 1 year low of $10.94 and a 1 year high of $47.84. The firm has a market cap of $2.09 billion, a P/E ratio of -7.93 and a beta of 2.18. The stock has a 50-day simple moving average of $38.51 and a 200-day simple moving average of $37.30.

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

Hedge Funds Weigh In On Kodiak Sciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Algert Global LLC grew its holdings in Kodiak Sciences by 26.1% during the 2nd quarter. Algert Global LLC now owns 186,476 shares of the company's stock worth $7,265,000 after acquiring an additional 38,546 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Kodiak Sciences by 31.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 120,629 shares of the company's stock valued at $4,598,000 after purchasing an additional 29,121 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Kodiak Sciences in the 2nd quarter valued at about $1,072,000. California State Teachers Retirement System lifted its position in shares of Kodiak Sciences by 1,358.9% during the first quarter. California State Teachers Retirement System now owns 29,396 shares of the company's stock worth $1,121,000 after purchasing an additional 27,381 shares during the last quarter. Finally, Swiss National Bank bought a new position in shares of Kodiak Sciences during the first quarter worth about $2,188,000. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

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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