Kodiak Sciences (NASDAQ:KOD) Raised to "Hold" at Wall Street Zen

Key Points

• Kodiak Sciences has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a more optimistic outlook for the stock.
• Analysts have set a range of target prices for Kodiak Sciences, with Barclays raising its target from $7.00 to $17.00, suggesting a stronger potential for growth.
• The company recently reported a quarterly EPS of (1.03), missing analysts' expectations, which has contributed to a mixed sentiment among investors.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Friday.

Several other analysts have also issued reports on the stock. Barclays upgraded shares of Kodiak Sciences from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $7.00 to $17.00 in a research report on Thursday. HC Wainwright lifted their price target on shares of Kodiak Sciences from $3.00 to $5.00 and gave the stock a "neutral" rating in a research note on Monday, August 18th. Jefferies Financial Group assumed coverage on Kodiak Sciences in a research note on Monday. They issued a "buy" rating and a $15.00 price objective for the company. Finally, JPMorgan Chase & Co. raised Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 target price on the stock in a report on Thursday, August 14th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $13.00.

Kodiak Sciences Stock Performance

Shares of KOD stock traded up $0.12 during trading hours on Friday, reaching $15.80. The company had a trading volume of 1,106,790 shares, compared to its average volume of 960,491. The business has a fifty day moving average price of $9.41 and a 200-day moving average price of $5.60. Kodiak Sciences has a one year low of $1.92 and a one year high of $19.39. The firm has a market cap of $834.56 million, a PE ratio of -4.16 and a beta of 2.45.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last announced its quarterly 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). Equities research analysts forecast that Kodiak Sciences will post -3.45 EPS for the current year.

Hedge Funds Weigh In On Kodiak Sciences

Several large investors have recently added to or reduced their stakes in KOD. Ameriprise Financial Inc. lifted its holdings in Kodiak Sciences by 26.1% during the fourth quarter. Ameriprise Financial Inc. now owns 38,624 shares of the company's stock valued at $384,000 after purchasing an additional 7,996 shares in the last quarter. Millennium Management LLC lifted its holdings in Kodiak Sciences by 148.7% during the fourth quarter. Millennium Management LLC now owns 81,991 shares of the company's stock valued at $816,000 after purchasing an additional 49,019 shares in the last quarter. Two Sigma Investments LP lifted its holdings in Kodiak Sciences by 25.2% during the fourth quarter. Two Sigma Investments LP now owns 49,406 shares of the company's stock valued at $492,000 after purchasing an additional 9,941 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Kodiak Sciences by 183.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 14,759 shares of the company's stock valued at $147,000 after purchasing an additional 9,560 shares in the last quarter. Finally, Aries Wealth Management purchased a new position in Kodiak Sciences during the first quarter valued at approximately $70,000. Hedge funds and other institutional investors own 89.06% of the company's stock.

About Kodiak Sciences

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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