Kodiak Sciences Inc. (NASDAQ:KOD) Given Average Recommendation of “Hold” by Brokerages

Kodiak Sciences Inc. (NASDAQ:KOD) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $22.6667.

Several equities research analysts recently issued reports on KOD shares. Jefferies Financial Group started coverage on Kodiak Sciences in a research report on Monday, September 22nd. They set a “buy” rating and a $15.00 price target on the stock. JPMorgan Chase & Co. upgraded shares of Kodiak Sciences from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $15.00 to $24.00 in a research note on Friday, October 24th. Wall Street Zen downgraded shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. HC Wainwright lifted their price target on shares of Kodiak Sciences from $24.00 to $26.00 and gave the company a “buy” rating in a report on Monday, November 17th. Finally, Lifesci Capital began coverage on shares of Kodiak Sciences in a research report on Thursday, October 23rd. They set an “outperform” rating and a $40.00 price objective for the company.

Hedge Funds Weigh In On Kodiak Sciences

Several hedge funds and other institutional investors have recently modified their holdings of KOD. Adage Capital Partners GP L.L.C. increased its stake in shares of Kodiak Sciences by 55.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,055,707 shares of the company’s stock valued at $7,668,000 after purchasing an additional 730,000 shares during the period. Boone Capital Management LLC bought a new stake in shares of Kodiak Sciences during the 3rd quarter worth about $11,719,000. Acadian Asset Management LLC lifted its stake in shares of Kodiak Sciences by 27.0% in the 1st quarter. Acadian Asset Management LLC now owns 1,946,134 shares of the company’s stock worth $5,454,000 after acquiring an additional 413,821 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings 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 acquiring an additional 324,722 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Kodiak Sciences by 657.7% during the third quarter. Bank of America Corp DE now owns 309,071 shares of the company’s stock valued at $5,059,000 after acquiring an additional 268,281 shares during the period. Institutional investors and hedge funds own 89.06% of the company’s stock.

Kodiak Sciences Stock Performance

Shares of KOD stock traded up $1.18 during trading hours on Friday, hitting $20.77. 987,724 shares of the company were exchanged, compared to its average volume of 783,298. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -5.04 and a beta of 2.88. Kodiak Sciences has a one year low of $1.92 and a one year high of $22.14. The business’s 50-day simple moving average is $16.15 and its two-hundred day simple moving average is $9.49.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.09). As a group, analysts anticipate that Kodiak Sciences will post -3.45 EPS for the current fiscal year.

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.