Research Analysts Offer Predictions for Kodiak Sciences Inc.’s FY2024 Earnings (NASDAQ:KOD)

Kodiak Sciences Inc. (NASDAQ:KODFree Report) – Stock analysts at Chardan Capital dropped their FY2024 earnings per share estimates for shares of Kodiak Sciences in a research report issued on Monday, April 1st. Chardan Capital analyst D. Gataulin now forecasts that the company will post earnings per share of ($4.79) for the year, down from their prior forecast of ($3.76). The consensus estimate for Kodiak Sciences’ current full-year earnings is ($4.03) per share.

A number of other analysts also recently issued reports on the company. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $2.00 target price on shares of Kodiak Sciences in a research note on Monday, December 11th. Barclays raised their target price on Kodiak Sciences from $2.00 to $3.00 and gave the company an “underweight” rating in a report on Monday. Finally, UBS Group lowered their target price on Kodiak Sciences from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Thursday, December 21st. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.00.

Read Our Latest Report on KOD

Kodiak Sciences Stock Down 1.4 %

Shares of KOD opened at $4.27 on Thursday. Kodiak Sciences has a 52-week low of $1.37 and a 52-week high of $9.80. The stock has a fifty day simple moving average of $5.42 and a two-hundred day simple moving average of $3.46.

Institutional Trading of Kodiak Sciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC increased its stake in Kodiak Sciences by 253.6% in the third quarter. Acadian Asset Management LLC now owns 1,636,621 shares of the company’s stock valued at $2,945,000 after purchasing an additional 1,173,832 shares during the last quarter. Silverarc Capital Management LLC acquired a new stake in Kodiak Sciences during the third quarter worth about $2,006,000. Newtyn Management LLC increased its stake in Kodiak Sciences by 62.5% during the third quarter. Newtyn Management LLC now owns 1,608,694 shares of the company’s stock worth $2,896,000 after acquiring an additional 618,991 shares during the last quarter. BlackRock Inc. increased its stake in Kodiak Sciences by 20.5% during the first quarter. BlackRock Inc. now owns 3,435,960 shares of the company’s stock worth $26,526,000 after acquiring an additional 584,762 shares during the last quarter. Finally, Krensavage Asset Management LLC acquired a new stake in Kodiak Sciences during the first quarter worth about $2,849,000. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

About Kodiak Sciences

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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.

See Also

Earnings History and Estimates for Kodiak Sciences (NASDAQ:KOD)

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