Kodiak Sciences (NYSE:KOD) Price Target Raised to $35.00

Kodiak Sciences (NYSE:KOD) had its price objective upped by equities researchers at Chardan Capital from $22.50 to $35.00 in a report issued on Tuesday, Briefing.com Automated Import reports. The firm presently has a “buy” rating on the stock. Chardan Capital’s target price would indicate a potential upside of 99.09% from the stock’s current price.

Separately, Zacks Investment Research downgraded Kodiak Sciences from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $20.00.

Shares of KOD opened at $17.58 on Tuesday. The stock has a fifty day moving average of $14.16 and a two-hundred day moving average of $11.21. Kodiak Sciences has a fifty-two week low of $5.65 and a fifty-two week high of $18.62.

Kodiak Sciences (NYSE:KOD) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.02).

Several hedge funds have recently added to or reduced their stakes in KOD. Marshall Wace LLP acquired a new stake in shares of Kodiak Sciences during the 1st quarter worth $258,000. Marshall Wace North America L.P. acquired a new stake in Kodiak Sciences in the 1st quarter valued at $73,000. Hillsdale Investment Management Inc. acquired a new stake in Kodiak Sciences in the 2nd quarter valued at $99,000. Wells Fargo & Company MN increased its holdings in Kodiak Sciences by 182.1% in the 2nd quarter. Wells Fargo & Company MN now owns 37,819 shares of the company’s stock valued at $442,000 after purchasing an additional 24,415 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Kodiak Sciences by 179.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,476 shares of the company’s stock valued at $73,000 after purchasing an additional 4,161 shares in the last quarter.

About Kodiak Sciences

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, provides novel therapeutics to treat ophthalmic diseases. The company's lead product candidate is KSI-301, a vascular endothelial growth factor (VEGF)-biologic that is in Phase I clinical study to treat wet age-related macular degeneration (AMD) and diabetic retinopathy.

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