Kodiak Sciences Inc. (NASDAQ:KOD) Receives $6.00 Average Price Target from Brokerages

Kodiak Sciences Inc. (NASDAQ:KOD) has received a consensus recommendation of “Reduce” from the seven research firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $5.50.

A number of equities research analysts recently weighed in on the company. Barclays raised their price target on Kodiak Sciences from $2.00 to $3.00 and gave the company an “underweight” rating in a report on Monday, April 1st. UBS Group lifted their price target on Kodiak Sciences from $3.00 to $5.00 and gave the company a “neutral” rating in a report on Thursday. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $2.00 price objective on shares of Kodiak Sciences in a report on Monday, December 11th.

Institutional Investors Weigh In On Kodiak Sciences

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Kodiak Sciences by 2.1% during the 2nd quarter. BlackRock Inc. now owns 4,507,439 shares of the company’s stock valued at $31,101,000 after purchasing an additional 91,551 shares in the last quarter. Newtyn Management LLC lifted its stake in Kodiak Sciences by 10.1% in the fourth quarter. Newtyn Management LLC now owns 1,771,241 shares of the company’s stock valued at $5,385,000 after buying an additional 162,547 shares in the last quarter. Vanguard Group Inc. lifted its stake in Kodiak Sciences by 3.3% in the third quarter. Vanguard Group Inc. now owns 1,646,083 shares of the company’s stock valued at $12,741,000 after buying an additional 53,125 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Kodiak Sciences by 253.6% in the third quarter. Acadian Asset Management LLC now owns 1,636,621 shares of the company’s stock valued at $2,945,000 after buying an additional 1,173,832 shares during the period. Finally, Silverarc Capital Management LLC bought a new stake in shares of Kodiak Sciences during the third quarter worth $2,006,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Kodiak Sciences Price Performance

Kodiak Sciences stock opened at $4.12 on Monday. The firm has a market capitalization of $216.34 million, a P/E ratio of -0.83 and a beta of 2.15. The stock has a fifty day moving average price of $5.39 and a two-hundred day moving average price of $3.48. Kodiak Sciences has a 52-week low of $1.37 and a 52-week high of $9.80.

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.