Analysts Set Kodiak Sciences Inc. (NASDAQ:KOD) Target Price at $42.14

Kodiak Sciences Inc. (NASDAQ:KOD) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $42.1429.

Several research firms recently issued reports on KOD. Wall Street Zen raised shares of Kodiak Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. UBS Group raised their target price on shares of Kodiak Sciences from $50.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, March 27th. HC Wainwright reissued a “buy” rating and issued 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 lifted their price target for the company from $14.00 to $61.00 in a research report on Monday, May 11th.

Kodiak Sciences Price Performance

Kodiak Sciences stock opened at $32.94 on Wednesday. Kodiak Sciences has a 12-month low of $3.43 and a 12-month high of $47.84. The stock has a market capitalization of $2.06 billion, a P/E ratio of -7.90 and a beta of 2.21. The firm’s 50-day moving average is $39.01 and its two-hundred day moving average is $30.80.

Kodiak Sciences (NASDAQ:KOD) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.93) by ($0.01). As a group, analysts forecast that Kodiak Sciences will post -3.89 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KOD. Westfuller Advisors LLC acquired a new position in Kodiak Sciences during the first quarter valued at approximately $26,000. V Square Quantitative Management LLC acquired a new position in Kodiak Sciences during the first quarter valued at approximately $26,000. EverSource Wealth Advisors LLC lifted its position in Kodiak Sciences by 1,221.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock valued at $28,000 after buying an additional 916 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Kodiak Sciences during the fourth quarter valued at approximately $29,000. Finally, Headlands Technologies LLC lifted its position in Kodiak Sciences by 256.4% during the second quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock valued at $30,000 after buying an additional 5,815 shares in the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

About Kodiak Sciences

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.