Kodiak Sciences (NASDAQ:KOD) Given New $4.00 Price Target at Barclays

Kodiak Sciences (NASDAQ:KOD) had its price objective increased by stock analysts at Barclays from $3.00 to $4.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s target price points to a potential downside of 27.67% from the company’s previous close.

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

Kodiak Sciences Stock Performance

Shares of NASDAQ KOD opened at $5.53 on Friday. Kodiak Sciences has a 1 year low of $1.89 and a 1 year high of $7.77. The firm’s 50 day moving average price is $3.36 and its 200 day moving average price is $3.05. The firm has a market cap of $290.96 million, a P/E ratio of -1.47 and a beta of 2.26.

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

Hedge Funds Weigh In On Kodiak Sciences

Hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Kodiak Sciences in the 1st quarter valued at $68,000. Sei Investments Co. purchased a new position in shares of Kodiak Sciences in the 1st quarter valued at $595,000. Headlands Technologies LLC purchased a new position in shares of Kodiak Sciences in the 1st quarter valued at $50,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Kodiak Sciences in the 1st quarter valued at $86,000. Finally, Vanguard Group Inc. raised its stake 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 valued at $8,702,000 after acquiring an additional 10,978 shares during the period. Institutional investors and hedge funds own 89.06% of the company’s stock.

About Kodiak Sciences

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.