Kodiak Sciences Inc. (NASDAQ:KOD) Receives $5.50 Average Price Target from Analysts

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) have received an average recommendation of “Reduce” from the seven analysts that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $5.50.

KOD has been the topic of several analyst reports. Barclays raised their price target on shares of Kodiak Sciences from $2.00 to $3.00 and gave the stock an “underweight” rating in a research note on Monday, April 1st. UBS Group raised their price target on shares of Kodiak Sciences from $3.00 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Kodiak Sciences in the third quarter valued at approximately $37,000. Oxford Asset Management LLP purchased a new position in Kodiak Sciences in the fourth quarter valued at approximately $41,000. JGP Global Gestao de Recursos Ltda. purchased a new position in Kodiak Sciences in the fourth quarter valued at approximately $46,000. Headlands Technologies LLC purchased a new position in Kodiak Sciences in the first quarter valued at approximately $50,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Kodiak Sciences in the first quarter valued at approximately $68,000. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Kodiak Sciences Price Performance

Kodiak Sciences stock opened at $3.11 on Tuesday. Kodiak Sciences has a 12-month low of $1.37 and a 12-month high of $9.80. The stock has a market capitalization of $163.37 million, a P/E ratio of -0.70 and a beta of 2.25. The firm’s 50-day moving average is $4.24 and its two-hundred day moving average is $3.93.

Kodiak Sciences (NASDAQ:KOD) last released its quarterly earnings results on Thursday, March 28th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.27). As a group, analysts forecast that Kodiak Sciences will post -3.83 EPS for the current year.

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.