Kodiak Sciences (NASDAQ:KOD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Kodiak Sciences (NASDAQ:KOD) from a strong sell rating to a sell rating in a research note issued to investors on Sunday,Wall Street Zen reports.

A number of other research analysts have also weighed in on KOD. Jefferies Financial Group restated a “buy” rating and issued a $112.00 price objective on shares of Kodiak Sciences in a report on Monday, September 28th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $103.00 target price on shares of Kodiak Sciences in a research report on Wednesday, September 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Kodiak Sciences in a research report on Friday, July 10th. JPMorgan Chase & Co. upped their price objective on shares of Kodiak Sciences from $56.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Finally, Lifesci Capital increased their price objective on shares of Kodiak Sciences from $85.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, September 28th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $100.43.

Kodiak Sciences Stock Performance

Kodiak Sciences stock opened at $92.34 on Friday. The company’s fifty day moving average price is $45.61 and its 200 day moving average price is $40.79. Kodiak Sciences has a 1 year low of $10.94 and a 1 year high of $104.00. The stock has a market capitalization of $5.80 billion, a P/E ratio of -22.04 and a beta of 2.03.

Kodiak Sciences (NASDAQ:KOD) last released its earnings results on Thursday, August 13th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.09). Sell-side analysts predict that Kodiak Sciences will post -3.97 EPS for the current year.

Insider Transactions at Kodiak Sciences

In other news, Director Bros. Advisors Lp Baker acquired 33,726 shares of the business’s stock in a transaction that occurred on Tuesday, September 29th. The stock was purchased at an average cost of $85.05 per share, for a total transaction of $2,868,396.30. Following the completion of the transaction, the director owned 20,191,214 shares in the company, valued at approximately $1,717,262,750.70. This trade represents a 0.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought 1,941,755 shares of company stock worth $156,986,026 in the last ninety days. 44.40% of the stock is currently owned by company insiders.

Institutional Trading of Kodiak Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Kodiak Sciences in the second quarter valued at about $161,113,000. Baker BROS. Advisors LP boosted its stake in Kodiak Sciences by 15.1% during the fourth quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company’s stock worth $556,940,000 after buying an additional 2,608,696 shares during the period. Jupiter Topco LLC acquired a new stake in shares of Kodiak Sciences during the second quarter valued at about $59,507,000. ICONIQ Capital LLC purchased a new stake in shares of Kodiak Sciences in the 2nd quarter valued at approximately $49,345,000. Finally, Bank of America Corp DE purchased a new stake in shares of Kodiak Sciences in the 2nd quarter valued at approximately $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 clinical-stage biopharmaceutical company focused on developing medicines for serious retinal diseases. The company’s research is centered on its Antibody Biopolymer Conjugate (ABC) platform, which is designed to combine antibody-based therapies with biopolymer technology to potentially extend the duration of treatment in the eye.

Kodiak’s lead programs have focused on ophthalmic diseases involving abnormal blood-vessel growth or leakage, including wet age-related macular degeneration, diabetic macular edema and retinal vein occlusion.