Kodiak Sciences (NASDAQ:KOD) Announces Quarterly Earnings Results

Kodiak Sciences (NASDAQ:KOD) announced its quarterly earnings data on Thursday. The company reported ($1.05) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.01, Zacks reports.

Kodiak Sciences Stock Performance

KOD traded down $1.09 during midday trading on Thursday, reaching $108.25. 557,871 shares of the company were exchanged, compared to its average volume of 906,100. The company has a market cap of $6.80 billion, a price-to-earnings ratio of -25.84 and a beta of 2.02. Kodiak Sciences has a one year low of $18.05 and a one year high of $112.31. The company’s fifty day moving average price is $75.22 and its 200 day moving average price is $45.32.

Insider Buying and Selling at Kodiak Sciences

In related news, Director Bros. Advisors Lp Baker bought 807,840 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The shares were bought at an average price of $72.57 per share, with a total value of $58,624,948.80. Following the completion of the transaction, the director directly owned 19,121,134 shares in the company, valued at approximately $1,387,620,694.38. This represents a 4.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased a total of 2,188,845 shares of company stock valued at $181,326,862 in the last 90 days. 44.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KOD. UBS Group raised their target price on Kodiak Sciences from $80.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, September 28th. JPMorgan Chase & Co. upped their price target on Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Jefferies Financial Group reiterated a “buy” rating and issued a $112.00 price target on shares of Kodiak Sciences in a report on Monday, September 28th. HC Wainwright boosted their price objective on Kodiak Sciences from $96.00 to $126.00 and gave the company a “buy” rating in a report on Monday, October 12th. Finally, The Goldman Sachs Group initiated coverage on Kodiak Sciences in a research report on Wednesday, September 30th. They set a “neutral” rating and a $103.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.71.

About Kodiak Sciences

Kodiak Sciences is a clinical-stage biopharmaceutical company focused on developing treatments for retinal and other eye diseases. The company’s research centers on therapies designed to address conditions involving damage to the retina and vision loss. Kodiak’s technology platform combines therapeutic antibodies with a biopolymer to create antibody biopolymer conjugates, which are designed to provide sustained treatment effects. Its development programs have included KSI-301, an investigational therapy targeting vascular endothelial growth factor (VEGF) for retinal diseases.