Kodiak Sciences Inc. (NASDAQ:KOD) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts give Kodiak Sciences a “Moderate Buy” consensus: six of eight firms rate the stock a buy, while one rates it a hold and one a sell. The average 12-month price target is $42.14.
• Shares opened at $40.01, with a market capitalization of approximately $2.50 billion and a 52-week range of $6.21 to $47.84. The company reported quarterly EPS of $(0.94), slightly below the $(0.93) consensus estimate.
• Institutional investors own 89.06% of the stock. Kodiak is a clinical-stage biopharmaceutical company developing retinal-disease therapies, including its lead candidate KSI-301 for conditions such as wet AMD and diabetic macular edema.

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eight research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $42.1429.

A number of equities research analysts have recently issued reports on the stock. Chardan Capital raised shares of Kodiak Sciences from a "neutral" rating to a "buy" rating and upped their target price for the stock from $14.00 to $61.00 in a report on Monday, May 11th. Weiss Ratings restated a "sell (d-)" rating on shares of Kodiak Sciences in a research report on Friday, July 10th. Finally, Wall Street Zen upgraded shares of Kodiak Sciences from a "sell" rating to a "hold" rating in a report on Saturday, May 16th.

Kodiak Sciences Price Performance

NASDAQ KOD opened at $40.01 on Thursday. The stock's 50 day simple moving average is $37.33 and its 200-day simple moving average is $33.71. The company has a market cap of $2.50 billion, a PE ratio of -9.59 and a beta of 2.19. Kodiak Sciences has a 1-year low of $6.21 and a 1-year high of $47.84.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.93) by ($0.01). On average, equities research analysts anticipate that Kodiak Sciences will post -3.78 EPS for the current fiscal year.

Institutional Trading of Kodiak Sciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Westfuller Advisors LLC purchased a new stake in shares of Kodiak Sciences in the first quarter valued at about $26,000. V Square Quantitative Management LLC acquired a new stake in shares of Kodiak Sciences during the 1st quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Kodiak Sciences by 1,221.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company's stock worth $28,000 after buying an additional 916 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Kodiak Sciences during the 4th quarter valued at approximately $29,000. Finally, Headlands Technologies LLC lifted its holdings in Kodiak Sciences by 256.4% in the second quarter. Headlands Technologies LLC now owns 8,083 shares of the company's stock valued at $30,000 after acquiring an additional 5,815 shares during the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

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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