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

Kodiak Sciences (NASDAQ:KOD) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Friday,Benzinga reports. The firm presently has a $24.00 price objective on the stock, up from their previous price objective of $15.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 40.27% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Barclays upgraded Kodiak Sciences from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $7.00 to $17.00 in a research note on Thursday, September 25th. Lifesci Capital began coverage on Kodiak Sciences in a report on Thursday. They issued an “outperform” rating and a $40.00 target price on the stock. HC Wainwright raised their target price on Kodiak Sciences from $3.00 to $5.00 and gave the stock a “neutral” rating in a report on Monday, August 18th. Jefferies Financial Group assumed coverage on Kodiak Sciences in a report on Monday, September 22nd. They set a “buy” rating and a $15.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kodiak Sciences in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Kodiak Sciences presently has an average rating of “Hold” and a consensus price target of $19.17.

Kodiak Sciences Trading Down 5.2%

KOD opened at $17.11 on Friday. The stock has a 50-day moving average price of $12.19 and a 200-day moving average price of $7.17. Kodiak Sciences has a 12-month low of $1.92 and a 12-month high of $19.39. The stock has a market capitalization of $903.75 million, a P/E ratio of -4.50 and a beta of 2.67.

Kodiak Sciences (NASDAQ:KOD) last issued 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). On average, equities research analysts predict that Kodiak Sciences will post -3.45 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. boosted its holdings in shares of 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 purchasing an additional 730,000 shares during the period. Acadian Asset Management LLC raised its position in shares of Kodiak Sciences by 27.0% in the first quarter. Acadian Asset Management LLC now owns 1,946,134 shares of the company’s stock valued at $5,454,000 after purchasing an additional 413,821 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Kodiak Sciences by 90.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 685,198 shares of the company’s stock valued at $1,922,000 after purchasing an additional 324,722 shares during the period. Nantahala Capital Management LLC raised its stake in Kodiak Sciences by 99.1% during the 1st quarter. Nantahala Capital Management LLC now owns 530,713 shares of the company’s stock valued at $1,489,000 after purchasing an additional 264,100 shares during the last quarter. Finally, ICONIQ Capital LLC raised its stake in Kodiak Sciences by 24.6% during the 1st quarter. ICONIQ Capital LLC now owns 1,266,563 shares of the company’s stock valued at $3,559,000 after purchasing an additional 249,699 shares during the last quarter. 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.