Zacks Investment Research Downgrades Kodiak Sciences (NYSE:KOD) to Hold

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Kodiak Sciences (NYSE:KOD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Kodiak Sciences Inc. operates as a clinical stage biopharmaceutical company. It specializes in novel therapeutics to treat chronic and retinal diseases. The company’s product candidates consists of KSI-301 for wet AMD, KSI-301 for diabetic eye disease, KSI-501 for DME and Uveitis, KSI-201 for treatment resistant wet AMD and KSI-401 for dry AMD which are in clinical stage. Kodiak Sciences Inc. is based in CA, United States. “

KOD has been the subject of a number of other reports. BMO Capital Markets started coverage on Kodiak Sciences in a research note on Tuesday, March 31st. They issued an “outperform” rating and a $74.00 price target for the company. Goldman Sachs Group started coverage on shares of Kodiak Sciences in a research report on Monday, March 2nd. They issued a “buy” rating and a $80.00 price objective for the company. SunTrust Banks dropped their target price on shares of Kodiak Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Barclays cut shares of Kodiak Sciences from an “overweight” rating to an “equal weight” rating and set a $69.00 price target for the company. in a report on Tuesday, February 18th. Finally, Morgan Stanley dropped their price objective on shares of Kodiak Sciences from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, April 15th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Kodiak Sciences has an average rating of “Buy” and a consensus target price of $82.18.

Shares of NYSE KOD traded down $3.48 during trading hours on Tuesday, hitting $61.13. 5,994 shares of the stock were exchanged, compared to its average volume of 354,278. Kodiak Sciences has a 12 month low of $9.47 and a 12 month high of $82.75. The firm has a fifty day moving average price of $58.02 and a 200-day moving average price of $57.93.

Kodiak Sciences (NYSE:KOD) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($0.07).

In related news, SVP Hong Liang sold 4,000 shares of Kodiak Sciences stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $42.34, for a total transaction of $169,360.00. Following the completion of the transaction, the senior vice president now directly owns 130,166 shares in the company, valued at $5,511,228.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jason Ehrlich sold 6,950 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $54.12, for a total value of $376,134.00. Following the completion of the transaction, the insider now directly owns 38,234 shares of the company’s stock, valued at $2,069,224.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 255,600 shares of company stock valued at $9,952,192 and have sold 28,100 shares valued at $1,313,996.

Several large investors have recently bought and sold shares of the company. Public Employees Retirement Association of Colorado purchased a new stake in Kodiak Sciences during the first quarter worth $195,000. Fred Alger Management LLC purchased a new stake in shares of Kodiak Sciences during the 1st quarter worth about $167,000. Voloridge Investment Management LLC acquired a new stake in shares of Kodiak Sciences during the 1st quarter valued at about $329,000. Caxton Associates LP acquired a new stake in shares of Kodiak Sciences during the 1st quarter valued at about $221,000. Finally, Two Sigma Investments LP increased its stake in shares of Kodiak Sciences by 236.6% in the 1st quarter. Two Sigma Investments LP now owns 92,792 shares of the company’s stock valued at $4,426,000 after purchasing an additional 65,225 shares in the last quarter.

Kodiak Sciences Company Profile

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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