HC Wainwright Expects Higher Earnings for Kodiak Sciences

Key Points

• HC Wainwright raised Kodiak Sciences’ FY2030 EPS forecast to $6.24 from $5.81 and maintained a “Buy” rating with a $126 price target.
• Analyst sentiment is broadly positive: Kodiak has an average “Moderate Buy” rating and a consensus price target of $104.71, although one analyst rates the stock “Sell.”
• Kodiak shares opened at $99.26, near their one-year high of $104.00, while institutional investors own 89.06% of the company and insiders own 44.40%.

Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) - Analysts at HC Wainwright lifted their FY2030 EPS estimates for Kodiak Sciences in a research note issued to investors on Monday, October 12th. HC Wainwright analyst M. Caufield now anticipates that the company will post earnings per share of $6.24 for the year, up from their previous forecast of $5.81. HC Wainwright currently has a "Buy" rating and a $126.00 price target on the stock. The consensus estimate for Kodiak Sciences' current full-year earnings is ($3.97) per share.

A number of other equities analysts have also weighed in on KOD. UBS Group boosted their target price on Kodiak Sciences from $80.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday, September 28th. Jefferies Financial Group reaffirmed a "buy" rating and set a $112.00 price target on shares of Kodiak Sciences in a report on Monday, September 28th. Lifesci Capital lifted their price target on shares of Kodiak Sciences from $85.00 to $145.00 and gave the stock an "outperform" rating in a research note on Monday, September 28th. Weiss Ratings lowered shares of Kodiak Sciences from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, October 6th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Kodiak Sciences currently has an average rating of "Moderate Buy" and an average price target of $104.71.

Kodiak Sciences Stock Performance

NASDAQ KOD opened at $99.26 on Tuesday. Kodiak Sciences has a one year low of $10.94 and a one year high of $104.00. The stock has a 50-day moving average of $50.02 and a 200 day moving average of $42.87. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of -23.69 and a beta of 2.03.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.96) by ($0.09).

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of KOD. Baker BROS. Advisors LP increased 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 valued at $556,940,000 after buying an additional 2,608,696 shares during the last quarter. BlackRock Inc. bought a new position in Kodiak Sciences in the second quarter worth approximately $161,113,000. Jupiter Topco LLC purchased a new position in shares of Kodiak Sciences during the 2nd quarter worth $59,507,000. Janus Henderson Group PLC boosted its stake in shares of Kodiak Sciences by 32.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,325,457 shares of the company's stock worth $50,540,000 after acquiring an additional 325,457 shares during the last quarter. Finally, ICONIQ Capital LLC purchased a new position in shares of Kodiak Sciences during the 2nd quarter worth $49,345,000. Institutional investors own 89.06% of the company's stock.

Insider Activity

In other news, Director Bros. Advisors Lp Baker acquired 807,840 shares of the business's stock in a transaction that occurred on Monday, September 28th. The stock was bought at an average price of $72.57 per share, with a total value of $58,624,948.80. Following the completion of the acquisition, the director directly owned 19,121,134 shares of the company's stock, valued at approximately $1,387,620,694.38. The trade was a 4.41% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders acquired 1,941,755 shares of company stock valued at $156,986,026. Company insiders own 44.40% of the company's stock.

Kodiak Sciences Company Profile

Kodiak Sciences Inc NASDAQ: KOD is a clinical-stage biopharmaceutical company focused on developing medicines for serious retinal diseases. The company's research is centered on its Antibody Biopolymer Conjugate (ABC) platform, which is designed to combine antibody-based therapies with biopolymer technology to potentially extend the duration of treatment in the eye.

Kodiak's lead programs have focused on ophthalmic diseases involving abnormal blood-vessel growth or leakage, including wet age-related macular degeneration, diabetic macular edema and retinal vein occlusion.

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