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

Key Points

• Analyst sentiment is moderately bullish: Six of eight analysts rate Kodiak Sciences a “buy,” while one rates it a hold and one a sell. The average 12-month price target is $48.14, above the reported share price of $38.33.
• Recent broker actions were mixed: JPMorgan raised its target to $66 and Chardan upgraded the stock to “buy” with a $61 target, while Weiss Ratings and Wall Street Zen maintained or issued sell ratings.
• Financial results remain under pressure: Kodiak reported a quarterly loss of $1.05 per share, missing the $0.96 consensus estimate, and analysts expect a full-year loss of $3.83 per share. Institutional investors own approximately 89.06% of the stock.

Shares of Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) have received a consensus rating of "Moderate Buy" from the eight research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $48.1429.

Several brokerages have recently issued reports on KOD. Weiss Ratings reiterated a "sell (d-)" rating on shares of Kodiak Sciences in a research note on Friday, July 10th. Chardan Capital upgraded Kodiak Sciences from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $14.00 to $61.00 in a research report on Monday, May 11th. JPMorgan Chase & Co. raised their price objective on Kodiak Sciences from $56.00 to $66.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. HC Wainwright reiterated a "buy" rating and issued a $58.00 target price on shares of Kodiak Sciences in a research report on Monday, August 17th. Finally, Wall Street Zen downgraded Kodiak Sciences from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th.

Kodiak Sciences Stock Performance

Shares of Kodiak Sciences stock opened at $38.33 on Monday. The company has a market cap of $2.41 billion, a PE ratio of -9.15 and a beta of 2.21. The company has a 50 day moving average of $39.90 and a 200-day moving average of $35.55. Kodiak Sciences has a 1-year low of $8.29 and a 1-year high of $47.84.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.96) by ($0.09). Research analysts forecast that Kodiak Sciences will post -3.83 earnings per share for the current year.

Institutional Investors Weigh In On Kodiak Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in KOD. AQR Capital Management LLC bought a new position in Kodiak Sciences in the 1st quarter valued at approximately $188,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Kodiak Sciences during the first quarter worth $94,000. Jane Street Group LLC increased its holdings in shares of Kodiak Sciences by 441.3% during the first quarter. Jane Street Group LLC now owns 64,649 shares of the company's stock worth $181,000 after buying an additional 52,705 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Kodiak Sciences by 6.3% during the second quarter. American Century Companies Inc. now owns 79,745 shares of the company's stock worth $297,000 after buying an additional 4,703 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Kodiak Sciences by 190.7% in the 2nd quarter. Federated Hermes Inc. now owns 244,231 shares of the company's stock valued at $911,000 after acquiring an additional 160,225 shares during the last quarter. 89.06% of the stock is owned by institutional investors.

About Kodiak Sciences

Kodiak Sciences, Inc is a clinical‐stage biopharmaceutical company headquartered in Palo Alto, California, that focuses on the discovery and development of novel therapies for retinal diseases. The company's proprietary technology centers on antibody biopolymer conjugates (ABCs), which are designed to extend durability, enhance tissue penetration and improve the safety profile of existing therapeutic modalities. Kodiak's research and development efforts target conditions such as wet age-related macular degeneration (wet AMD), diabetic macular edema (DME) and other serious ophthalmic disorders.

The lead product candidate in Kodiak's pipeline is KSI-301, an anti-VEGF antibody biopolymer conjugate administered via intravitreal injection.

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