HC Wainwright Reiterates Buy Rating for Kodiak Sciences (NASDAQ:KOD)

Kodiak Sciences (NASDAQ:KOD)‘s stock had its “buy” rating restated by HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They presently have a $58.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 76.99% from the company’s current price.

KOD has been the topic of a number of other reports. Wall Street Zen lowered Kodiak Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Kodiak Sciences in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. raised their target price on Kodiak Sciences from $56.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Kodiak Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $48.14.

Kodiak Sciences Trading Down 0.7%

NASDAQ KOD opened at $32.77 on Thursday. Kodiak Sciences has a 1 year low of $9.10 and a 1 year high of $47.84. The company has a fifty day simple moving average of $39.57 and a 200 day simple moving average of $37.02. The company has a market cap of $2.06 billion, a P/E ratio of -7.82 and a beta of 2.18.

Kodiak Sciences (NASDAQ:KOD) last announced its earnings results on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.09). Equities research analysts forecast that Kodiak Sciences will post -3.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in KOD. BlackRock Inc. bought a new stake in Kodiak Sciences in the 2nd quarter valued at $161,113,000. Baker BROS. Advisors LP lifted its holdings in shares of Kodiak Sciences by 15.1% during the 4th quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company’s stock worth $556,940,000 after acquiring an additional 2,608,696 shares during the period. Jupiter Topco LLC bought a new position in shares of Kodiak Sciences during the 2nd quarter worth about $59,507,000. ICONIQ Capital LLC acquired a new stake in shares of Kodiak Sciences during the 2nd quarter valued at about $49,345,000. Finally, Bank of America Corp DE acquired a new stake in shares of Kodiak Sciences during the 2nd quarter valued at about $14,949,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

About Kodiak Sciences

Kodiak Sciences Inc (NASDAQ: KOD) is a biopharmaceutical company focused on developing therapies for retinal diseases and other conditions affecting the eye. The company’s research is centered on antibody biopolymer conjugates, a technology designed to extend the duration of action of biologic medicines in ocular tissues and potentially reduce the frequency of administration.

Its lead development program has been tarcocimab tedromer, also known as KSI-301, an anti-vascular endothelial growth factor (VEGF) therapy investigated for retinal vascular diseases, including diabetic macular edema, diabetic retinopathy and neovascular age-related macular degeneration.