Kodiak Sciences Inc. (NASDAQ:KOD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Kodiak Sciences Inc. (NASDAQ:KODGet Free Report) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $42.1429.

A number of equities research analysts recently commented on KOD shares. Wall Street Zen raised shares of Kodiak Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Kodiak Sciences in a research report on Thursday, January 22nd. UBS Group increased their target price on shares of Kodiak Sciences from $50.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, March 27th. HC Wainwright reissued a “buy” rating and set a $58.00 target price (up from $38.00) on shares of Kodiak Sciences in a research report on Friday, March 27th. Finally, Chardan Capital raised shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and increased their target price for the company from $14.00 to $61.00 in a research report on Monday, May 11th.

View Our Latest Research Report on Kodiak Sciences

Kodiak Sciences Stock Up 5.2%

NASDAQ:KOD opened at $36.22 on Friday. Kodiak Sciences has a 52 week low of $3.26 and a 52 week high of $47.84. The firm has a 50 day moving average of $37.01 and a 200 day moving average of $28.82. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of -8.69 and a beta of 2.32.

Kodiak Sciences (NASDAQ:KODGet Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.01). As a group, analysts expect that Kodiak Sciences will post -3.89 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Boone Capital Management LLC purchased a new position in shares of Kodiak Sciences in the third quarter worth $11,719,000. TD Asset Management Inc purchased a new position in shares of Kodiak Sciences in the third quarter worth $992,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Kodiak Sciences in the third quarter worth $488,000. Vanguard Group Inc. raised its holdings in shares of Kodiak Sciences by 18.6% in the fourth quarter. Vanguard Group Inc. now owns 2,313,395 shares of the company’s stock worth $64,683,000 after buying an additional 363,103 shares during the last quarter. Finally, PSP Research LLC purchased a new position in shares of Kodiak Sciences in the fourth quarter worth $543,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

About Kodiak Sciences

(Get Free Report)

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.

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Analyst Recommendations for Kodiak Sciences (NASDAQ:KOD)

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