Barclays Issues Positive Forecast for Kodiak Sciences (NASDAQ:KOD) Stock Price

Kodiak Sciences (NASDAQ:KOD) had its target price upped by Barclays from $3.00 to $4.00 in a research note released on Friday,Benzinga reports. Barclays currently has an underweight rating on the stock.

Separately, HC Wainwright restated a “neutral” rating and issued a $3.00 price objective on shares of Kodiak Sciences in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Kodiak Sciences currently has an average rating of “Hold” and a consensus target price of $5.20.

Kodiak Sciences Stock Performance

NASDAQ KOD traded up $0.23 during trading hours 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. The stock has a market cap of $290.96 million, a PE ratio of -1.47 and a beta of 2.26. The company’s 50-day moving average is $3.36 and its two-hundred day moving average is $3.05. Kodiak Sciences has a fifty-two week low of $1.89 and a fifty-two week high of $7.77.

Kodiak Sciences (NASDAQ:KOD) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.86) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.01. Equities analysts expect that Kodiak Sciences will post -3.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kodiak Sciences

Institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its position in Kodiak Sciences by 14.1% during the second quarter. Acadian Asset Management LLC now owns 1,965,449 shares of the company’s stock valued at $4,614,000 after buying an additional 242,559 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in shares of Kodiak Sciences in the 1st quarter valued at approximately $86,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Kodiak Sciences during the first quarter worth $68,000. Sei Investments Co. lifted its holdings in Kodiak Sciences by 27.1% in the second quarter. Sei Investments Co. now owns 143,841 shares of the company’s stock worth $338,000 after acquiring an additional 30,683 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of 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 last quarter. 89.06% of the stock is currently 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.