Kodiak Sciences (NASDAQ:KOD) Stock Price Up 9.8% - What's Next?

Key Points

• Kodiak Sciences rose 9.8% on Friday to about $44.37, trading roughly 208,824 shares — nearly 80% below its average daily volume.
• Analysts have been upgrading targets, with UBS boosting its price target to $80 (buy) and HC Wainwright to $58, while the consensus is a "Moderate Buy" with an average target of $35.43.
• Clinical-stage biopharma focused on retinal diseases (lead candidate KSI-301) has a market cap of $2.78 billion, reported a quarterly EPS miss and carries negative expected EPS (-3.45), with institutional investors owning about 89% of the stock.

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) rose 9.8% on Friday . The company traded as high as $43.94 and last traded at $44.3650. Approximately 208,824 shares traded hands during trading, a decline of 80% from the average daily volume of 1,043,464 shares. The stock had previously closed at $40.41.

Analyst Upgrades and Downgrades

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

Kodiak Sciences Price Performance

The firm has a 50-day moving average price of $29.60 and a 200 day moving average price of $24.67. The company has a market cap of $2.78 billion, a price-to-earnings ratio of -10.39 and a beta of 2.39.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last posted 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). On average, equities analysts anticipate that Kodiak Sciences Inc. will post -3.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Kodiak Sciences

Large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its position in Kodiak Sciences by 1,221.3% during the fourth 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. GF Fund Management CO. LTD. acquired a new stake in Kodiak Sciences during the fourth quarter worth approximately $29,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Kodiak Sciences during the fourth quarter worth approximately $72,000. Strs Ohio acquired a new stake in Kodiak Sciences during the fourth quarter worth approximately $87,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Kodiak Sciences during the fourth quarter worth approximately $119,000. 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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