Kodiak Sciences (NASDAQ:KOD) Upgraded to “Hold” at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Kodiak Sciences (NASDAQ:KOD) to a hold rating in a report released on Thursday,Zacks reports.

Several other research firms have also recently commented on KOD. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak Sciences in a research report on Friday, July 10th. Wall Street Zen downgraded Kodiak Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. HC Wainwright reissued a “buy” rating and issued a $58.00 price objective on shares of Kodiak Sciences in a research report on Thursday, September 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Kodiak Sciences from $56.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Kodiak Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $56.83.

Kodiak Sciences Trading Up 5.4%

KOD stock opened at $33.22 on Thursday. Kodiak Sciences has a 1-year low of $10.94 and a 1-year high of $47.84. The firm has a market cap of $2.09 billion, a PE ratio of -7.93 and a beta of 2.18. The business’s 50-day moving average price is $38.51 and its two-hundred day moving average price is $37.30.

Kodiak Sciences (NASDAQ:KOD) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). On average, analysts forecast that Kodiak Sciences will post -3.89 earnings per share for the current year.

Institutional Investors Weigh In On Kodiak Sciences

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

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.