Kodiak Sciences (NASDAQ:KOD) Upgraded to Buy at Chardan Capital

Key Points

• Chardan Capital upgraded Kodiak Sciences to Buy from Neutral and lifted its price target sharply to $61 from $14, implying notable upside from the stock’s current level.
• Other analysts have also been more optimistic recently, including UBS Group raising its target to $80 and HC Wainwright boosting its target to $58; the overall consensus rating is now Moderate Buy.
• Kodiak Sciences reported a small quarterly EPS miss and remains a clinical-stage biopharmaceutical company focused on retinal disease treatments, with its lead candidate KSI-301 in development.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) was upgraded by equities researchers at Chardan Capital from a "neutral" rating to a "buy" rating in a report released on Monday,Benzinga reports. The firm currently has a $61.00 target price on the stock, up from their prior target price of $14.00. Chardan Capital's price target would indicate a potential upside of 48.74% from the stock's current price.

Other analysts have also recently issued research reports about the stock. UBS Group increased their price objective on shares of Kodiak Sciences from $50.00 to $80.00 and gave the stock a "buy" rating in a report on Friday, March 27th. HC Wainwright reaffirmed a "buy" rating and issued a $58.00 price objective (up from $38.00) on shares of Kodiak Sciences in a report on Friday, March 27th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Kodiak Sciences in a report on Thursday, January 22nd. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $42.14.

Kodiak Sciences Price Performance

KOD stock opened at $41.01 on Monday. Kodiak Sciences has a fifty-two week low of $2.81 and a fifty-two week high of $47.84. The firm's 50-day simple moving average is $34.96 and its 200 day simple moving average is $27.61. The stock has a market cap of $2.57 billion, a PE ratio of -9.83 and a beta of 2.32.

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 for the quarter, missing analysts' consensus estimates of ($0.93) by ($0.01). Equities analysts forecast that Kodiak Sciences will post -3.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Kodiak Sciences

Large investors have recently bought and sold shares of the stock. Westfuller Advisors LLC acquired a new position in Kodiak Sciences during the 1st quarter valued at about $26,000. V Square Quantitative Management LLC acquired a new position in Kodiak Sciences during the 1st quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its stake in Kodiak Sciences by 1,221.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company's stock valued at $28,000 after buying an additional 916 shares during the period. GF Fund Management CO. LTD. acquired a new position in Kodiak Sciences during the 4th quarter valued at about $29,000. Finally, Headlands Technologies LLC increased its stake in Kodiak Sciences by 256.4% during the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company's stock valued at $30,000 after buying an additional 5,815 shares during the period. Institutional investors and hedge funds own 89.06% of the company's stock.

Kodiak Sciences Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.