Kodiak Sciences (NASDAQ:KOD) Stock Price Expected to Rise, HC Wainwright Analyst Says

Kodiak Sciences (NASDAQ:KOD – Get Free Report) had its target price boosted by stock analysts at HC Wainwright from $58.00 to $96.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 9.50% from the stock’s previous close.

Several other research firms have also commented on KOD. JPMorgan Chase & Co. increased their target price on Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Kodiak Sciences in a report on Friday, July 10th. The Goldman Sachs Group began coverage on shares of Kodiak Sciences in a research note on Thursday. They set a “neutral” rating and a $36.00 price objective for the company. Finally, Wall Street Zen cut shares of Kodiak Sciences from a “sell” rating to a “strong sell” rating in a research report on Saturday. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.17.

View Our Latest Report on Kodiak Sciences

Kodiak Sciences Price Performance

KOD stock traded up $55.32 during midday trading on Monday, hitting $87.67. The stock had a trading volume of 24,168,461 shares, compared to its average volume of 963,897. The company’s 50-day moving average price is $38.31 and its 200 day moving average price is $37.34. The firm has a market cap of $5.51 billion, a PE ratio of -20.75 and a beta of 2.18. Kodiak Sciences has a 12-month low of $10.94 and a 12-month high of $87.83.

Kodiak Sciences (NASDAQ:KOD – Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). As a group, sell-side analysts anticipate that Kodiak Sciences will post -3.89 EPS for the current year.

Hedge Funds Weigh In On Kodiak Sciences

Several hedge funds and other institutional investors have recently modified their holdings of the company. Baker BROS. Advisors LP raised its holdings in Kodiak Sciences by 15.1% in the fourth quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company’s stock valued at $556,940,000 after buying an additional 2,608,696 shares during the period. BlackRock Inc. acquired a new stake in shares of Kodiak Sciences in the second quarter worth $161,113,000. Jupiter Topco LLC acquired a new stake in shares of Kodiak Sciences in the second quarter worth $59,507,000. Janus Henderson Group PLC raised its stake in shares of Kodiak Sciences by 32.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,325,457 shares of the company’s stock valued at $50,540,000 after acquiring an additional 325,457 shares during the period. Finally, ICONIQ Capital LLC purchased a new position in shares of Kodiak Sciences in the 2nd quarter valued at $49,345,000. 89.06% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Kodiak Sciences

Here are the key news stories impacting Kodiak Sciences this week:

  • Positive Sentiment: DAYBREAK produced positive results for Zenkuda and tabirafusp-ted, also known as KSI-501, in patients with wAMD. The results validate Kodiak’s lead ophthalmology candidates and provide a major clinical milestone. Kodiak Sciences Reports Positive Phase 3 DAYBREAK Results
  • Positive Sentiment: Management said Zenkuda performed on par with Regeneron’s blockbuster Eylea, strengthening the candidate’s potential competitive and commercial positioning in the large wAMD market. Kodiak Sciences Says Eye Drug on Par with Regeneron’s Medicine
  • Positive Sentiment: Following the trial success, Kodiak plans to submit Zenkuda for regulatory approval. That creates a clear next catalyst, although approval and eventual commercialization remain subject to regulatory review. Kodiak Sciences Stock Pops After Eye-Disease Drugs Pass Key Trial
  • Neutral Sentiment: The sharp rally has pushed Kodiak to a new 12-month high and attracted unusually heavy trading activity, indicating strong investor interest but also increasing the risk of volatility and profit-taking.
  • Neutral Sentiment: Goldman Sachs recently initiated research coverage on Kodiak, potentially increasing institutional visibility; the available report does not provide a specific rating or price target. Kodiak Sciences Research Coverage Started at Goldman Sachs

Kodiak Sciences Company Profile

(Get Free Report)

Kodiak Sciences Inc (NASDAQ: KOD) is a biopharmaceutical company focused on developing therapies for retinal diseases and other conditions affecting the eye. The company’s research is centered on antibody biopolymer conjugates, a technology designed to extend the duration of action of biologic medicines in ocular tissues and potentially reduce the frequency of administration.

Its lead development program has been tarcocimab tedromer, also known as KSI-301, an anti-vascular endothelial growth factor (VEGF) therapy investigated for retinal vascular diseases, including diabetic macular edema, diabetic retinopathy and neovascular age-related macular degeneration.

Further Reading

Analyst Recommendations for Kodiak Sciences (NASDAQ:KOD)

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