Kodiak Sciences (NASDAQ:KOD) Raised to Equal Weight at Barclays

Key Points

• Kodiak Sciences was upgraded by Barclays from an "underweight" rating to an "equal weight" rating, with a new price target of $17.00, reflecting an increase from the previous target of $7.00.
• Consensus among analysts shows a "Hold" rating for Kodiak Sciences, with a consensus price target of $13.00.
• In the stock's recent trading, Kodiak opened at $15.49, with a significant market capitalization of $818.21 million, and notable volatility reflected by a beta of 2.45.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) was upgraded by analysts at Barclays from an "underweight" rating to an "equal weight" rating in a research report issued on Thursday,Benzinga reports. The firm currently has a $17.00 price objective on the stock, up from their prior price objective of $7.00. Barclays's price target would indicate a potential upside of 9.75% from the stock's previous close.

Other analysts have also recently issued research reports about the company. Jefferies Financial Group initiated coverage on Kodiak Sciences in a research report on Monday. They set a "buy" rating and a $15.00 target price on the stock. JPMorgan Chase & Co. raised Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 price target on the stock in a report on Thursday, August 14th. Finally, HC Wainwright raised their price target on Kodiak Sciences from $3.00 to $5.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $13.00.

Kodiak Sciences Stock Performance

KOD opened at $15.49 on Thursday. The business's 50-day simple moving average is $8.99 and its 200-day simple moving average is $5.43. Kodiak Sciences has a one year low of $1.92 and a one year high of $16.30. The stock has a market capitalization of $818.21 million, a P/E ratio of -4.08 and a beta of 2.45.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. raised its position in Kodiak Sciences by 55.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,055,707 shares of the company's stock worth $7,668,000 after acquiring an additional 730,000 shares in the last quarter. Acadian Asset Management LLC raised its position in Kodiak Sciences by 1.2% in 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 in the last quarter. ICONIQ Capital LLC boosted its stake 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 worth $3,559,000 after acquiring an additional 249,699 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake 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 worth $1,922,000 after acquiring an additional 324,722 shares in the last quarter. Finally, Nantahala Capital Management LLC boosted its stake 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 worth $2,204,000 after acquiring an additional 60,171 shares in the last quarter. Institutional investors and hedge funds own 89.06% of the company's stock.

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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