Kodiak Sciences (KOD) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Kodiak Sciences (NYSE:KOD) from a hold rating to a sell rating in a research report released on Saturday morning, 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 began coverage on Kodiak Sciences in a research report on Wednesday, February 20th. They issued a buy rating and a $22.50 price target on the stock. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $19.13.

Kodiak Sciences stock traded up $0.35 during trading hours on Friday, hitting $9.01. 269,801 shares of the stock traded hands, compared to its average volume of 70,240. Kodiak Sciences has a one year low of $5.65 and a one year high of $11.10.

Kodiak Sciences (NYSE:KOD) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.16.

Institutional investors and hedge funds have recently modified their holdings of the company. American International Group Inc. bought a new stake in shares of Kodiak Sciences in the 4th quarter worth approximately $44,000. New York State Common Retirement Fund bought a new stake in shares of Kodiak Sciences in the 1st quarter worth approximately $56,000. SG Americas Securities LLC bought a new stake in shares of Kodiak Sciences in the 1st quarter worth approximately $66,000. Marshall Wace North America L.P. bought a new stake in shares of Kodiak Sciences in the 1st quarter worth approximately $73,000. Finally, Deutsche Bank AG bought a new stake in shares of Kodiak Sciences in the 4th quarter worth approximately $87,000.

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.

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