Kodiak Sciences (NASDAQ:KOD) Raised to “Overweight” at JPMorgan Chase & Co.

Kodiak Sciences (NASDAQ:KOD) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $24.00 target price on the stock, up from their prior target price of $15.00. JPMorgan Chase & Co.‘s price target suggests a potential upside of 40.27% from the company’s previous close.

A number of other research firms also recently issued reports on KOD. Weiss Ratings restated a “sell (e+)” rating on shares of Kodiak Sciences in a research report on Wednesday, October 8th. Barclays upgraded shares of Kodiak Sciences from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $7.00 to $17.00 in a research report on Thursday, September 25th. Lifesci Capital started coverage on shares of Kodiak Sciences in a research note on Thursday. They set an “outperform” rating and a $40.00 price objective on the stock. Jefferies Financial Group started coverage on shares of Kodiak Sciences in a research note on Monday, September 22nd. They set a “buy” rating and a $15.00 price objective on the stock. Finally, Wall Street Zen lowered shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $19.17.

Kodiak Sciences Stock Performance

KOD opened at $17.11 on Friday. The firm’s 50-day simple moving average is $12.19 and its 200-day simple moving average is $7.17. Kodiak Sciences has a twelve month low of $1.92 and a twelve month high of $19.39. The firm has a market cap of $903.75 million, a price-to-earnings ratio of -4.50 and a beta of 2.67.

Kodiak Sciences (NASDAQ:KOD) last posted its earnings results on Wednesday, August 13th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.02). As a group, sell-side analysts anticipate that Kodiak Sciences will post -3.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Kodiak Sciences

Large investors have recently made changes to their positions in the business. US Bancorp DE increased its position in shares of Kodiak Sciences by 131.7% during the 1st quarter. US Bancorp DE now owns 9,282 shares of the company’s stock valued at $26,000 after purchasing an additional 5,276 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in Kodiak Sciences in the 1st quarter worth about $28,000. Headlands Technologies LLC increased its holdings in Kodiak Sciences by 256.4% in the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock worth $30,000 after acquiring an additional 5,815 shares during the last quarter. Walleye Capital LLC purchased a new stake in Kodiak Sciences in the 1st quarter worth about $49,000. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Kodiak Sciences by 21.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company’s stock worth $56,000 after purchasing an additional 2,691 shares during the period. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.