HC Wainwright Boosts Kodiak Sciences (NASDAQ:KOD) Price Target to $5.00

Key Points

• HC Wainwright raised Kodiak Sciences' price target from $3.00 to $5.00, maintaining a "neutral" rating despite suggesting a potential downside of 52.70% from the current price.
• Other analysts, including JPMorgan Chase & Co. and Barclays, have also changed their ratings, with JPMorgan increasing their target to $15.00 and Barclays raising theirs to $7.00.
• Kodiak Sciences, focused on retinal disease treatments, reported a quarterly loss of ($1.03) earnings per share, missing analyst estimates by $0.02.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) had its target price hoisted by equities researchers at HC Wainwright from $3.00 to $5.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. HC Wainwright's price objective suggests a potential downside of 52.70% from the stock's current price.

A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. raised shares of Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 price target on the stock in a research note on Thursday. Barclays reissued an "underweight" rating and issued a $7.00 price objective (up previously from $4.00) on shares of Kodiak Sciences in a research report on Thursday.

Kodiak Sciences Price Performance

Kodiak Sciences stock opened at $10.57 on Monday. The company's 50 day simple moving average is $5.58 and its 200 day simple moving average is $4.41. Kodiak Sciences has a fifty-two week low of $1.92 and a fifty-two week high of $11.60. The firm has a market capitalization of $558.31 million, a price-to-earnings ratio of -2.78 and a beta of 2.41.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.02). As a group, analysts predict that Kodiak Sciences will post -3.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Kodiak Sciences

Several institutional investors and hedge funds have recently bought and sold shares of KOD. The Manufacturers Life Insurance Company acquired a new position in shares of Kodiak Sciences in the fourth quarter valued at approximately $902,000. Vontobel Holding Ltd. acquired a new position in shares of Kodiak Sciences in the first quarter valued at approximately $28,000. GSA Capital Partners LLP increased its stake in shares of Kodiak Sciences by 163.6% in the first quarter. GSA Capital Partners LLP now owns 205,833 shares of the company's stock valued at $577,000 after buying an additional 127,748 shares during the period. XTX Topco Ltd acquired a new position in shares of Kodiak Sciences in the first quarter valued at approximately $126,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Kodiak Sciences by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 521,237 shares of the company's stock valued at $5,186,000 after buying an additional 26,058 shares during the period. Institutional investors own 89.06% of the company's stock.

About Kodiak Sciences

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, researches, develops, and commercializes therapeutics to treat retinal diseases. Its lead product candidate is tarcocimab tedromer (KSI-301), an anti-vascular endothelial growth factor antibody biopolymer that is in Phase IIb/III clinical study to treat wet age-related macular degeneration (AMD), as well as Phase III clinical study for the treatment of diabetic macular edema, naïve macular edema due to retinal vein occlusion, and non-proliferative diabetic retinopathy.

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