Kodiak Sciences (NASDAQ:KOD) Issues Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• Kodiak Sciences reported a quarterly loss of $1.05 per share, beating analysts’ consensus estimate of a $1.06 loss by $0.01.
• Shares fell $1.09 to $108.25 on Thursday. The stock’s 52-week range is $18.05 to $112.31.
• Insiders bought 2.19 million shares worth about $181.3 million over the past quarter. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $104.71.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) released its earnings results on Thursday. The company reported ($1.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.06) by $0.01, Zacks reports.

Kodiak Sciences Stock Performance

Shares of Kodiak Sciences stock traded down $1.09 on Thursday, reaching $108.25. 557,871 shares of the company's stock were exchanged, compared to its average volume of 906,100. The firm's 50-day moving average is $75.22 and its two-hundred day moving average is $45.32. Kodiak Sciences has a 52 week low of $18.05 and a 52 week high of $112.31. The company has a market capitalization of $6.80 billion, a P/E ratio of -25.84 and a beta of 2.02.

Insiders Place Their Bets

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

Analyst Ratings Changes

KOD has been the subject of a number of recent analyst reports. Lifesci Capital increased their price target on shares of Kodiak Sciences from $85.00 to $145.00 and gave the company an "outperform" rating in a research note on Monday, September 28th. HC Wainwright boosted their price objective on Kodiak Sciences from $96.00 to $126.00 and gave the stock a "buy" rating in a report on Monday, October 12th. Wall Street Zen upgraded Kodiak Sciences from a "strong sell" rating to a "sell" rating in a research note on Sunday, October 4th. Weiss Ratings cut Kodiak Sciences from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, October 6th. Finally, JPMorgan Chase & Co. boosted their price target on Kodiak Sciences from $56.00 to $66.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $104.71.

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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