Zacks Investment Research Upgrades Kodiak Sciences (KOD) to Hold

Kodiak Sciences (NYSE:KOD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday, 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. “

Separately, Chardan Capital assumed coverage on Kodiak Sciences in a research report on Wednesday, February 20th. They issued a “buy” rating and a $22.50 price target for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $19.13.

KOD opened at $7.49 on Friday. Kodiak Sciences has a 12 month low of $5.65 and a 12 month high of $11.10.

Kodiak Sciences (NYSE:KOD) last released its quarterly earnings results on Thursday, March 28th. The company reported ($0.25) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.05.

Large investors have recently made changes to their positions in the business. Jennison Associates LLC purchased a new position in shares of Kodiak Sciences during the fourth quarter valued at approximately $5,662,000. venBio Select Advisor LLC purchased a new position in shares of Kodiak Sciences during the fourth quarter valued at approximately $6,406,000. BlackRock Inc. purchased a new position in shares of Kodiak Sciences during the fourth quarter valued at approximately $3,139,000. Pura Vida Investments LLC purchased a new position in shares of Kodiak Sciences during the fourth quarter valued at approximately $173,000. Finally, American International Group Inc. purchased a new position in shares of Kodiak Sciences during the fourth quarter valued at approximately $44,000.

About Kodiak Sciences

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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