Kodiak Sciences Inc. (NASDAQ:KOD) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts give Kodiak Sciences a “Moderate Buy” consensus: Six of eight covering analysts rate the stock a buy, while one rates it hold and one sell. Their average 12-month price target is $104.71.
• Several firms recently raised their price targets, including Lifesci Capital to $145 and UBS to $120, both with positive ratings.
• Insiders bought about 2.19 million shares worth $181 million during the last quarter, and insiders own 44.4% of the company. Kodiak’s latest reported quarterly loss of $1.05 per share was wider than the $0.96 loss analysts expected.

Shares of Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eight brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $104.71.

Several research firms have recently issued reports on KOD. Lifesci Capital increased 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. UBS Group raised their target price on Kodiak Sciences from $80.00 to $120.00 and gave the stock a "buy" rating in a research note on Monday, September 28th. JPMorgan Chase & Co. increased their price target on Kodiak Sciences from $56.00 to $66.00 and gave the stock an "overweight" rating in a research report on Monday, August 3rd. Jefferies Financial Group reissued a "buy" rating and set a $112.00 target price on shares of Kodiak Sciences in a research note on Monday, September 28th. Finally, HC Wainwright boosted their target price on Kodiak Sciences from $96.00 to $126.00 and gave the company a "buy" rating in a research note on Monday, October 12th.

Kodiak Sciences Price Performance

Kodiak Sciences stock opened at $99.30 on Friday. Kodiak Sciences has a 12-month low of $15.83 and a 12-month high of $104.00. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of -23.70 and a beta of 2.02. The firm's fifty day moving average price is $69.56 and its 200 day moving average price is $43.69.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($1.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.96) by ($0.09). Analysts forecast that Kodiak Sciences will post -3.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Kodiak Sciences

In other Kodiak Sciences news, Director Bros. Advisors Lp Baker acquired 807,840 shares of Kodiak Sciences stock in a transaction on Monday, September 28th. The shares were purchased at an average cost of $72.57 per share, with a total value of $58,624,948.80. Following the completion of the purchase, the director owned 19,121,134 shares in the company, valued at $1,387,620,694.38. The trade was a 4.41% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have acquired 2,188,845 shares of company stock worth $181,326,862. 44.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kodiak Sciences

Several hedge funds have recently made changes to their positions in the company. KBC Group NV acquired a new position in shares of Kodiak Sciences during the 1st quarter worth $39,000. Sterling Capital Management LLC boosted its position in shares of Kodiak Sciences by 850.0% in the third quarter. Sterling Capital Management LLC now owns 1,311 shares of the company's stock valued at $124,000 after acquiring an additional 1,173 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Kodiak Sciences by 94.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,927 shares of the company's stock worth $73,000 after purchasing an additional 936 shares in the last quarter. Simplicity Wealth LLC purchased a new position in shares of Kodiak Sciences during the third quarter valued at approximately $263,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Kodiak Sciences in the 3rd quarter worth $304,000. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

About Kodiak Sciences

Kodiak Sciences Inc NASDAQ: KOD is a clinical-stage biopharmaceutical company focused on developing treatments for retinal diseases. The company's research centers on therapies designed to address conditions that can cause vision loss, including diabetic macular edema, neovascular age-related macular degeneration and retinal vein occlusion.

Kodiak's proprietary Antibody Biopolymer Conjugate platform is designed to combine the targeting capabilities of antibody-based medicines with a biodegradable polymer intended to extend the duration of treatment in the eye.

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