Kodiak Sciences (NASDAQ:KOD) Price Target Raised to $66.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Kodiak Sciences’ price target to $66 from $56 and maintained an “overweight” rating, implying 57.88% upside from the previous close.
• Analyst sentiment is mostly positive: six analysts rate the stock a Buy, one rates it Hold and one rates it Sell, producing a consensus “Moderate Buy” rating and a $48.14 target price.
• Kodiak shares rose 0.5% to $41.80, while the clinical-stage biotech reported a quarterly loss of $0.94 per share, slightly worse than the $0.93 consensus estimate.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) had its price objective lifted by JPMorgan Chase & Co. from $56.00 to $66.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 57.88% from the company's previous close.

Several other equities research analysts have also recently weighed in on KOD. Chardan Capital upgraded Kodiak Sciences from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $14.00 to $61.00 in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Kodiak Sciences from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Kodiak Sciences in a research report on Friday, July 10th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $48.14.

Kodiak Sciences Stock Up 0.5%

NASDAQ KOD traded up $0.22 on Monday, hitting $41.80. 135,980 shares of the stock were exchanged, compared to its average volume of 871,585. Kodiak Sciences has a fifty-two week low of $6.42 and a fifty-two week high of $47.84. The company has a 50-day moving average price of $37.54 and a 200-day moving average price of $33.91. The company has a market cap of $2.62 billion, a PE ratio of -9.99 and a beta of 2.19.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.93) by ($0.01). As a group, equities research analysts predict that Kodiak Sciences will post -3.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KOD. Westfuller Advisors LLC purchased a new position in shares of Kodiak Sciences in the 1st quarter valued at about $26,000. V Square Quantitative Management LLC purchased a new stake in shares of Kodiak Sciences in the 1st quarter worth about $26,000. EverSource Wealth Advisors LLC boosted its position in shares of Kodiak Sciences by 1,221.3% in 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 in the last quarter. KBC Group NV acquired a new stake in Kodiak Sciences in the 1st quarter valued at about $39,000. Finally, GF Fund Management CO. LTD. purchased a new position in Kodiak Sciences during the 4th quarter valued at about $29,000. 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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