Kodiak Sciences Inc. (NASDAQ:KOD) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analysts give Kodiak Sciences a “Moderate Buy” consensus: Six of eight covering brokerages recommend buying the stock, while one rates it a hold and one a sell. The average 12-month price target is $48.14, above the reported $32.85 share price.
• Recent results fell short of expectations: Kodiak 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 approximately $3.89 per share.
• Institutional ownership is substantial: Institutional investors own 89.06% of Kodiak, with major firms including Baker Bros. Advisors, BlackRock and Janus Henderson adding or initiating positions. The company is developing eye-disease therapies, including the lead candidate tarcocimab tedromer.

Shares of Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $48.1429.

KOD has been the subject of several research reports. HC Wainwright reissued a "buy" rating and issued a $58.00 price objective on shares of Kodiak Sciences in a research report on Thursday. Weiss Ratings restated a "sell (d-)" rating on shares of Kodiak Sciences in a research report on Friday, July 10th. JPMorgan Chase & Co. raised their price objective on shares of Kodiak Sciences from $56.00 to $66.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Finally, Wall Street Zen downgraded shares of Kodiak Sciences from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th.

Kodiak Sciences Stock Up 0.2%

NASDAQ:KOD opened at $32.85 on Friday. Kodiak Sciences has a 12 month low of $9.22 and a 12 month high of $47.84. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -7.84 and a beta of 2.18. The company's 50 day moving average is $39.43 and its 200-day moving average is $37.07.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of KOD. Baker BROS. Advisors LP boosted its holdings 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 purchasing an additional 2,608,696 shares during the last quarter. BlackRock Inc. bought a new position in Kodiak Sciences in the 2nd quarter valued at about $161,113,000. Jupiter Topco LLC acquired a new stake in Kodiak Sciences during the second quarter worth approximately $59,507,000. Janus Henderson Group PLC grew its stake in shares of Kodiak Sciences by 32.5% in the first 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 in the last quarter. Finally, ICONIQ Capital LLC acquired a new stake in Kodiak Sciences during the second quarter worth approximately $49,345,000. Institutional investors own 89.06% of the company's stock.

About Kodiak Sciences

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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