Chardan Capital Equities Analysts Lower Earnings Estimates for Kodiak Sciences Inc. (NASDAQ:KOD)

Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) - Analysts at Chardan Capital reduced their FY2024 earnings per share estimates for shares of Kodiak Sciences in a research report issued to clients and investors on Monday, April 1st. Chardan Capital analyst D. Gataulin now expects that the company will earn ($4.79) per share for the year, down from their prior estimate of ($3.76). The consensus estimate for Kodiak Sciences' current full-year earnings is ($4.03) per share.

A number of other equities analysts have also recently issued reports on KOD. The Goldman Sachs Group restated a "sell" rating and set a $2.00 price target on shares of Kodiak Sciences in a report on Monday, December 11th. Barclays upped their target price on Kodiak Sciences from $2.00 to $3.00 and gave the stock an "underweight" rating in a research report on Monday. Finally, UBS Group upped their target price on Kodiak Sciences from $3.00 to $5.00 and gave the stock a "neutral" rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $6.40.

Kodiak Sciences Stock Performance

Shares of Kodiak Sciences stock traded down $0.19 on Thursday, reaching $4.08. 764,365 shares of the company's stock were exchanged, compared to its average volume of 899,447. The company has a market capitalization of $214.24 million, a P/E ratio of -0.89 and a beta of 2.15. Kodiak Sciences has a 52 week low of $1.37 and a 52 week high of $9.80. The firm's 50-day moving average is $5.42 and its two-hundred day moving average is $3.46.

Institutional Investors Weigh In On Kodiak Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of KOD. Point72 Middle East FZE purchased a new stake in shares of Kodiak Sciences during the 4th quarter valued at $27,000. UBS Group AG increased its position in shares of Kodiak Sciences by 26,200.0% during the 3rd quarter. UBS Group AG now owns 6,575 shares of the company's stock valued at $51,000 after purchasing an additional 6,550 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Kodiak Sciences during the 3rd quarter valued at $55,000. Royal Bank of Canada grew its stake in shares of Kodiak Sciences by 89.0% during the 3rd quarter. Royal Bank of Canada now owns 7,592 shares of the company's stock worth $59,000 after acquiring an additional 3,575 shares during the period. Finally, Ensign Peak Advisors Inc grew its stake in shares of Kodiak Sciences by 64.4% during the 3rd quarter. Ensign Peak Advisors Inc now owns 9,570 shares of the company's stock worth $74,000 after acquiring an additional 3,750 shares during the period. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.