Kodiak Sciences Inc. (NASDAQ:KOD) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Kodiak Sciences Inc. received an average recommendation of "Hold" from five research firms, with one sell rating, three hold ratings, and one buy rating, indicating mixed market sentiment.
• Jefferies Financial Group set a buy rating with a price target of $15.00, while Barclays upgraded their price target from $7.00 to $17.00, reflecting optimism about the company's future performance.
• Hedge funds and institutional investors own 89.06% of Kodiak's stock, showcasing significant institutional interest in the company.

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) has received an average recommendation of "Hold" from the five research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $13.00.

A number of analysts have commented on KOD shares. Jefferies Financial Group started coverage on Kodiak Sciences in a report on Monday, September 22nd. They set a "buy" rating and a $15.00 price objective for the company. Barclays upgraded Kodiak Sciences from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $7.00 to $17.00 in a research note on Thursday, September 25th. Wall Street Zen upgraded Kodiak Sciences from a "sell" rating to a "hold" rating in a research note on Friday, September 26th. HC Wainwright increased their target price on shares of Kodiak Sciences from $3.00 to $5.00 and gave the company a "neutral" rating in a report on Monday, August 18th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Kodiak Sciences in a report on Saturday, September 27th.

Hedge Funds Weigh In On Kodiak Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. boosted its stake in shares of Kodiak Sciences by 55.1% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,055,707 shares of the company's stock worth $7,668,000 after buying an additional 730,000 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Kodiak Sciences by 1.2% during the second quarter. Acadian Asset Management LLC now owns 1,969,876 shares of the company's stock worth $7,343,000 after acquiring an additional 23,742 shares during the period. ICONIQ Capital LLC increased its position in shares of Kodiak Sciences by 24.6% during the 1st quarter. ICONIQ Capital LLC now owns 1,266,563 shares of the company's stock valued at $3,559,000 after purchasing an additional 249,699 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Kodiak Sciences by 90.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 685,198 shares of the company's stock valued at $1,922,000 after purchasing an additional 324,722 shares during the last quarter. Finally, Nantahala Capital Management LLC increased its position in shares of Kodiak Sciences by 11.3% during the 2nd quarter. Nantahala Capital Management LLC now owns 590,884 shares of the company's stock valued at $2,204,000 after purchasing an additional 60,171 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company's stock.

Kodiak Sciences Stock Performance

NASDAQ KOD traded up $1.63 during mid-day trading on Friday, hitting $15.06. The company's stock had a trading volume of 649,604 shares, compared to its average volume of 1,076,931. Kodiak Sciences has a twelve month low of $1.92 and a twelve month high of $19.39. The company's 50 day simple moving average is $10.12 and its 200 day simple moving average is $5.92.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported ($1.03) earnings per share for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.02). Sell-side analysts predict that Kodiak Sciences will post -3.45 earnings per share for the current fiscal year.

Kodiak Sciences Company Profile

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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