Kodiak Sciences (NASDAQ:KOD) Price Target Raised to $4.00

Kodiak Sciences (NASDAQ:KOD) had its price target hoisted by Barclays from $3.00 to $4.00 in a report issued on Friday morning,Benzinga reports. They currently have an underweight rating on the stock.

Separately, HC Wainwright reissued a “neutral” rating and set a $3.00 target price on shares of Kodiak Sciences in a research note on Friday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.20.

Kodiak Sciences Price Performance

KOD stock traded up $0.23 on Friday, reaching $5.53. The company’s stock had a trading volume of 596,873 shares, compared to its average volume of 478,590. Kodiak Sciences has a 52 week low of $1.89 and a 52 week high of $7.77. The company has a market capitalization of $290.96 million, a P/E ratio of -1.47 and a beta of 2.26. The firm has a fifty day moving average of $3.36 and a two-hundred day moving average of $3.05.

Kodiak Sciences (NASDAQ:KOD) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.01. As a group, equities analysts expect that Kodiak Sciences will post -3.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KOD. Acadian Asset Management LLC lifted its holdings in Kodiak Sciences by 14.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,965,449 shares of the company’s stock valued at $4,614,000 after acquiring an additional 242,559 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new stake in shares of Kodiak Sciences in the 1st quarter worth approximately $86,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Kodiak Sciences during the first quarter valued at approximately $68,000. Sei Investments Co. boosted its holdings in Kodiak Sciences by 27.1% during the second quarter. Sei Investments Co. now owns 143,841 shares of the company’s stock worth $338,000 after buying an additional 30,683 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Kodiak Sciences by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,654,448 shares of the company’s stock worth $8,702,000 after buying an additional 10,978 shares in the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

Kodiak Sciences Company Profile

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.