Chardan Capital reaffirmed their buy rating on shares of Kodiak Sciences (NYSE:KOD) in a research note published on Thursday, June 13th, AnalystRatings.com reports. Chardan Capital currently has a $22.50 price objective on the stock.
“We thought it notable that CMO and CDO PhD spent 10 years at unrated Roche (Genentech), including as global head of late- stage ophthalmology, where his team was responsible for pivotal studies and he headed programs such as Lucentis Port Delivery. Kodiak platform address the limitations (e.g. treatment burden) of anti-VEGF therapies (>$10.5 bn in 2018 sales). With KSI-301, Kodiak hopes to address the leading global causes of blindness, namely aging and diabetes. Despite the size of the existing anti- VEGF market, an unmet medical need exists since, after 3 years or so of treatment, patients (under optimal care) typically have vision close to or worse than when the patients started anti-VEGF treatment.”,” the firm’s analyst commented.
Separately, Zacks Investment Research raised shares of Kodiak Sciences from a hold rating to a buy rating and set a $11.00 target price on the stock in a research report on Friday, May 24th. Five research analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and an average target price of $17.50.
Shares of NYSE:KOD opened at $12.00 on Thursday. Kodiak Sciences has a 1 year low of $5.65 and a 1 year high of $13.00.
Kodiak Sciences (NYSE:KOD) last announced its quarterly earnings data on Wednesday, May 15th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.16.
Several large investors have recently modified their holdings of KOD. Perceptive Advisors LLC acquired a new stake in shares of Kodiak Sciences in the fourth quarter valued at about $22,259,000. venBio Select Advisor LLC acquired a new stake in shares of Kodiak Sciences in the fourth quarter valued at about $6,406,000. Jennison Associates LLC acquired a new stake in shares of Kodiak Sciences in the fourth quarter valued at about $5,662,000. BlackRock Inc. acquired a new stake in shares of Kodiak Sciences in the fourth quarter valued at about $3,139,000. Finally, Northern Trust Corp acquired a new stake in shares of Kodiak Sciences in the fourth quarter valued at about $487,000.
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.
Further Reading: Outstanding Shares and The Effect on Share Price
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