Weiss Ratings Reiterates Sell (E+) Rating for Kodiak Sciences (NASDAQ:KOD)

Key Points

• Weiss Ratings has reaffirmed a Sell (E+) rating for Kodiak Sciences, indicating continued skepticism about the stock's performance.
• Despite Weiss's negative stance, other analysts have issued varying ratings, with Barclays upgrading the stock to Equal Weight and raising its price target significantly from $7.00 to $17.00.
• Kodiak Sciences reported a negative earnings per share of ($1.03), missing consensus estimates and reflecting ongoing financial struggles in the company.

Kodiak Sciences (NASDAQ:KOD - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

KOD has been the subject of several other reports. Barclays upgraded Kodiak Sciences from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $7.00 to $17.00 in a research note on Thursday, September 25th. HC Wainwright raised their price objective on Kodiak Sciences from $3.00 to $5.00 and gave the company a "neutral" rating in a report on Monday, August 18th. Chardan Capital reissued a "neutral" rating and issued a $14.00 price objective on shares of Kodiak Sciences in a report on Monday. Jefferies Financial Group assumed coverage on Kodiak Sciences in a report on Monday, September 22nd. They issued a "buy" rating and a $15.00 price objective on the stock. Finally, Wall Street Zen raised Kodiak Sciences from a "sell" rating to a "hold" rating in a research note on Friday, September 26th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $13.20.

Kodiak Sciences Price Performance

Shares of NASDAQ KOD opened at $14.46 on Wednesday. The stock has a market capitalization of $763.78 million, a P/E ratio of -3.81 and a beta of 2.67. Kodiak Sciences has a 1-year low of $1.92 and a 1-year high of $19.39. The business has a fifty day moving average price of $10.64 and a 200 day moving average price of $6.24.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($1.03) earnings per share for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.02). As a group, equities research analysts anticipate that Kodiak Sciences will post -3.45 earnings per share for the current fiscal year.

Institutional Trading of Kodiak Sciences

A number of institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. lifted its position in Kodiak Sciences by 55.1% during 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 buying an additional 730,000 shares in the last quarter. Acadian Asset Management LLC lifted its position in Kodiak Sciences by 1.2% during the second quarter. Acadian Asset Management LLC now owns 1,969,876 shares of the company's stock worth $7,343,000 after buying an additional 23,742 shares in the last quarter. ICONIQ Capital LLC lifted its position in Kodiak Sciences by 24.6% during the first quarter. ICONIQ Capital LLC now owns 1,266,563 shares of the company's stock worth $3,559,000 after buying an additional 249,699 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Kodiak Sciences by 90.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 685,198 shares of the company's stock worth $1,922,000 after buying an additional 324,722 shares in the last quarter. Finally, Nantahala Capital Management LLC lifted its position in Kodiak Sciences by 11.3% during the second quarter. Nantahala Capital Management LLC now owns 590,884 shares of the company's stock worth $2,204,000 after buying an additional 60,171 shares in the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

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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