Q1 2024 EPS Estimates for Kodiak Sciences Inc. Boosted by Analyst (NASDAQ:KOD)

Kodiak Sciences Inc. (NASDAQ:KOD) – Equities researchers at Zacks Research raised their Q1 2024 earnings estimates for shares of Kodiak Sciences in a report issued on Wednesday, March 27th. Zacks Research analyst A. Chakraborty now forecasts that the company will post earnings per share of ($1.17) for the quarter, up from their previous forecast of ($1.18). The consensus estimate for Kodiak Sciences’ current full-year earnings is ($3.74) per share. Zacks Research also issued estimates for Kodiak Sciences’ Q2 2024 earnings at ($1.12) EPS, Q3 2024 earnings at ($1.12) EPS, Q4 2024 earnings at ($1.08) EPS, FY2024 earnings at ($4.50) EPS, Q1 2025 earnings at ($0.94) EPS, Q2 2025 earnings at ($0.81) EPS and FY2025 earnings at ($3.22) EPS.

A number of other equities analysts have also issued reports on the company. The Goldman Sachs Group reaffirmed a “sell” rating and set a $2.00 price target on shares of Kodiak Sciences in a research note on Monday, December 11th. UBS Group decreased their target price on Kodiak Sciences from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Thursday, December 21st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Kodiak Sciences currently has a consensus rating of “Hold” and a consensus price target of $6.75.

Kodiak Sciences Stock Down 29.4 %

KOD stock opened at $5.26 on Friday. The company has a 50-day simple moving average of $5.37 and a 200 day simple moving average of $3.41. The company has a market capitalization of $275.99 million, a P/E ratio of -1.06 and a beta of 2.17. Kodiak Sciences has a fifty-two week low of $1.37 and a fifty-two week high of $9.80.

Hedge Funds Weigh In On Kodiak Sciences

A number of large investors have recently made changes to their positions in KOD. Vanguard Group Inc. boosted its stake in shares of Kodiak Sciences by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 1,643,470 shares of the company’s stock valued at $4,996,000 after buying an additional 10,454 shares during the period. Barclays PLC raised its holdings in shares of Kodiak Sciences by 61.3% during the fourth quarter. Barclays PLC now owns 102,261 shares of the company’s stock worth $310,000 after acquiring an additional 38,877 shares in the last quarter. Voya Investment Management LLC acquired a new stake in Kodiak Sciences during the fourth quarter valued at $49,000. Newtyn Management LLC boosted its position in Kodiak Sciences by 10.1% during the fourth quarter. Newtyn Management LLC now owns 1,771,241 shares of the company’s stock valued at $5,385,000 after purchasing an additional 162,547 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its stake in Kodiak Sciences by 2.7% in the fourth quarter. Nuveen Asset Management LLC now owns 145,449 shares of the company’s stock valued at $442,000 after purchasing an additional 3,769 shares in the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

About Kodiak Sciences

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, researches, develops, and commercializes therapeutics to treat retinal diseases. Its lead product candidate is tarcocimab tedromer (KSI-301), an anti-vascular endothelial growth factor antibody biopolymer that is in Phase IIb/III clinical study to treat wet age-related macular degeneration (AMD), as well as Phase III clinical study for the treatment of diabetic macular edema, naïve macular edema due to retinal vein occlusion, and non-proliferative diabetic retinopathy.