Kodiak Sciences (NASDAQ:KOD) Hits New 12-Month High - What's Next?

Key Points

• Shares hit a new 52-week high of $46.69 on Monday (last trade $46.13) on volume of about 143,208 shares.
• Analyst sentiment has moved higher—UBS raised its target to $80 and HC Wainwright to $58—leaving a MarketBeat consensus of “Moderate Buy” with an average target of $35.43.
• Kodiak is a clinical‑stage biopharma (lead candidate KSI-301) but remains unprofitable, reporting a quarterly EPS of ($1.04) that missed estimates, a projected FY EPS of -3.45, and roughly 89% institutional ownership.

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $46.69 and last traded at $46.1340, with a volume of 143208 shares. The stock had previously closed at $44.90.

Analyst Upgrades and Downgrades

KOD has been the topic of a number of analyst reports. UBS Group increased their target price on Kodiak Sciences from $50.00 to $80.00 and gave the company a "buy" rating in a report on Friday, March 27th. Weiss Ratings reissued a "sell (e+)" rating on shares of Kodiak Sciences in a research note on Thursday, January 22nd. Finally, HC Wainwright reissued a "buy" rating and issued a $58.00 target price (up from $38.00) on shares of Kodiak Sciences in a research note on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Kodiak Sciences currently has an average rating of "Moderate Buy" and an average target price of $35.43.

Kodiak Sciences Price Performance

The stock has a market cap of $2.91 billion, a price-to-earnings ratio of -10.85 and a beta of 2.39. The stock's 50-day moving average is $30.04 and its 200-day moving average is $24.99.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.02). Analysts predict that Kodiak Sciences Inc. will post -3.45 EPS for the current fiscal year.

Institutional Trading of Kodiak Sciences

Large investors have recently bought and sold shares of the company. Boone Capital Management LLC acquired a new stake in Kodiak Sciences in the third quarter valued at approximately $11,719,000. TD Asset Management Inc acquired a new position in Kodiak Sciences in the 3rd quarter worth $992,000. Campbell & CO Investment Adviser LLC acquired a new position in Kodiak Sciences in the 3rd quarter worth $488,000. Fox Run Management L.L.C. acquired a new stake in Kodiak Sciences during the 3rd quarter valued at approximately $204,000. Finally, SG Americas Securities LLC acquired a new stake in Kodiak Sciences during the 3rd quarter valued at approximately $228,000. Institutional investors and hedge funds own 89.06% of the company's stock.

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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