Kodiak Sciences (NASDAQ:KOD) Posts Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Kodiak Sciences (NASDAQ:KOD) released its quarterly earnings data on Wednesday. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.09), Zacks reports.

Kodiak Sciences Stock Up 1.2%

Shares of KOD stock traded up $0.48 on Friday, hitting $40.46. The company had a trading volume of 225,803 shares, compared to its average volume of 854,649. The firm has a market cap of $2.53 billion, a P/E ratio of -9.70 and a beta of 2.21. The company has a 50-day moving average price of $38.90 and a 200-day moving average price of $34.90. Kodiak Sciences has a twelve month low of $8.29 and a twelve month high of $47.84.

Analysts Set New Price Targets

A number of research firms have weighed in on KOD. JPMorgan Chase & Co. upped their target price on Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Chardan Capital upgraded Kodiak Sciences from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $61.00 in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak Sciences in a research report on Friday, July 10th. Finally, Wall Street Zen upgraded Kodiak Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.14.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Cerity Partners LLC increased its stake in shares of Kodiak Sciences by 7.4% in the 4th quarter. Cerity Partners LLC now owns 16,446 shares of the company’s stock valued at $460,000 after purchasing an additional 1,139 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Kodiak Sciences by 89.4% in the third quarter. BNP Paribas Financial Markets now owns 6,373 shares of the company’s stock valued at $104,000 after purchasing an additional 3,009 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Kodiak Sciences in the fourth quarter valued at approximately $119,000. Deutsche Bank AG increased its position in shares of Kodiak Sciences by 14.9% in the fourth quarter. Deutsche Bank AG now owns 35,317 shares of the company’s stock valued at $987,000 after buying an additional 4,593 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Kodiak Sciences by 6.3% during the 2nd quarter. American Century Companies Inc. now owns 79,745 shares of the company’s stock worth $297,000 after buying an additional 4,703 shares during the period. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Kodiak Sciences Company Profile

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.