Lifesci Capital Forecasts Strong Price Appreciation for Kodiak Sciences (NASDAQ:KOD) Stock

Kodiak Sciences (NASDAQ:KOD) had its price objective raised by equities research analysts at Lifesci Capital from $85.00 to $145.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Lifesci Capital’s target price indicates a potential upside of 60.06% from the stock’s current price.

A number of other research firms have also recently weighed in on KOD. JPMorgan Chase & Co. upped their price target on shares of Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. HC Wainwright raised their price objective on shares of Kodiak Sciences from $58.00 to $96.00 and gave the company a “buy” rating in a research note on Monday. UBS Group boosted their price objective on shares of Kodiak Sciences from $80.00 to $120.00 and gave the stock a “buy” rating in a report on Monday. Wall Street Zen lowered shares of Kodiak Sciences from a “sell” rating to a “strong sell” rating in a research report on Saturday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Kodiak Sciences in a research report on Friday, July 10th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.33.

Kodiak Sciences Stock Performance

NASDAQ KOD traded up $58.24 during trading on Monday, reaching $90.59. The company’s stock had a trading volume of 32,193,840 shares, compared to its average volume of 1,004,025. The business’s fifty day moving average price is $38.31 and its 200-day moving average price is $37.34. Kodiak Sciences has a twelve month low of $10.94 and a twelve month high of $95.69. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of -21.74 and a beta of 2.18.

Kodiak Sciences (NASDAQ:KOD) last issued its quarterly 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). As a group, sell-side analysts forecast that Kodiak Sciences will post -3.89 EPS for the current fiscal year.

Institutional Trading of Kodiak Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Baker BROS. Advisors LP increased its position 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 purchasing an additional 2,608,696 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Kodiak Sciences in the 2nd quarter valued at $161,113,000. Jupiter Topco LLC acquired a new position in shares of Kodiak Sciences in the 2nd quarter valued at $59,507,000. Janus Henderson Group PLC grew its stake in shares of Kodiak Sciences by 32.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,325,457 shares of the company’s stock valued at $50,540,000 after buying an additional 325,457 shares during the period. Finally, ICONIQ Capital LLC acquired a new stake in shares of Kodiak Sciences during the 2nd quarter worth $49,345,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

More Kodiak Sciences News

Here are the key news stories impacting Kodiak Sciences this week:

• Positive Sentiment: Kodiak reported positive Phase 3 DAYBREAK results for Zenkuda (tabirafusp-ted/KSI-501) in wet age-related macular degeneration. The data indicate the candidate performed comparably with Regeneron’s established Eylea, supporting Kodiak’s plan to seek regulatory approval for Zenkuda. Kodiak Sciences Stock Pops 64% After Eye-Disease Drugs Pass Key Trial
• Positive Sentiment: The DAYBREAK outcome was described as a positive result for both Zenkuda and tabirafusp-ted in wet AMD, materially improving the company’s prospects in a large commercial market dominated by anti-VEGF treatments. The news drove substantial investor interest, with the stock reported to be up more than 440% over the past year. Kodiak Sciences Reports Positive Phase 3 DAYBREAK Results
• Positive Sentiment: HC Wainwright raised its Kodiak price target from $58 to $96 and assigned a “Buy” rating. The new target implies additional upside from the reported trading level, reflecting increased confidence in Zenkuda’s clinical and regulatory potential. HC Wainwright Raises Kodiak Sciences Price Target
• Neutral Sentiment: Goldman Sachs initiated research coverage of Kodiak Sciences. The available report does not specify the firm’s rating or price target, so the immediate investment implication is unclear. Kodiak Sciences Research Coverage Started at Goldman Sachs

Kodiak Sciences Company Profile

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.