Brokerages Set Kodiak Sciences Inc. (NASDAQ:KOD) PT at $5.50

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

Several research firms recently issued reports on KOD. UBS Group raised their target price on Kodiak Sciences from $3.00 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Barclays raised their target price on Kodiak Sciences from $2.00 to $3.00 and gave the stock an “underweight” rating in a research note on Monday, April 1st.

Hedge Funds Weigh In On Kodiak Sciences

Several large investors have recently made changes to their positions in the business. Headlands Technologies LLC bought a new stake in Kodiak Sciences in the 1st quarter worth approximately $50,000. Vanguard Group Inc. grew its position in Kodiak Sciences by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,654,448 shares of the company’s stock worth $8,702,000 after purchasing an additional 10,978 shares during the period. Nan Fung Group Holdings Ltd grew its position in Kodiak Sciences by 62.7% in the 1st quarter. Nan Fung Group Holdings Ltd now owns 31,922 shares of the company’s stock worth $168,000 after purchasing an additional 12,300 shares during the period. Oxford Asset Management LLP bought a new stake in Kodiak Sciences in the 4th quarter worth approximately $41,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Kodiak Sciences in the 1st quarter worth approximately $68,000. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Kodiak Sciences Trading Up 4.8 %

Shares of NASDAQ:KOD opened at $2.64 on Friday. The stock’s 50-day moving average price is $3.27 and its 200-day moving average price is $4.02. Kodiak Sciences has a 12-month low of $1.37 and a 12-month high of $7.84. The stock has a market capitalization of $138.68 million, a P/E ratio of -0.60 and a beta of 2.43.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings data on Wednesday, May 15th. The company reported ($0.82) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.27. As a group, research analysts predict that Kodiak Sciences will post -3.55 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.