Brokerages expect that Kodiak Sciences Inc. (NYSE:KOD) will post ($0.35) earnings per share for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Kodiak Sciences’ earnings, with the lowest EPS estimate coming in at ($0.44) and the highest estimate coming in at ($0.29). Kodiak Sciences reported earnings of ($0.25) per share during the same quarter last year, which would indicate a negative year over year growth rate of 40%. The firm is scheduled to report its next earnings results on Thursday, March 26th.
According to Zacks, analysts expect that Kodiak Sciences will report full-year earnings of ($1.20) per share for the current financial year, with EPS estimates ranging from ($1.30) to ($1.13). For the next fiscal year, analysts forecast that the business will post earnings of ($3.51) per share, with EPS estimates ranging from ($6.04) to ($1.97). Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that cover Kodiak Sciences.
KOD has been the topic of a number of research reports. Roth Capital initiated coverage on Kodiak Sciences in a research report on Wednesday, January 8th. They set a “buy” rating and a $115.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on Kodiak Sciences in a research report on Tuesday, December 24th. They set an “overweight” rating and a $82.00 target price on the stock. Zacks Investment Research raised Kodiak Sciences from a “sell” rating to a “hold” rating in a research report on Thursday. Jefferies Financial Group initiated coverage on Kodiak Sciences in a research report on Friday, January 3rd. They set a “buy” rating and a $100.00 target price on the stock. Finally, Morgan Stanley upped their target price on Kodiak Sciences from $33.00 to $82.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Kodiak Sciences currently has an average rating of “Buy” and an average price target of $84.78.
In related news, Director Bros. Advisors Lp Baker purchased 1,902,173 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was acquired at an average cost of $64.47 per share, with a total value of $122,633,093.31. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in Kodiak Sciences by 28.9% in the 4th quarter. Geode Capital Management LLC now owns 327,036 shares of the company’s stock valued at $23,530,000 after purchasing an additional 73,409 shares during the period. Perceptive Advisors LLC grew its stake in Kodiak Sciences by 16.9% in the 4th quarter. Perceptive Advisors LLC now owns 3,663,557 shares of the company’s stock valued at $263,593,000 after purchasing an additional 528,358 shares during the period. Alliancebernstein L.P. grew its stake in Kodiak Sciences by 79.4% in the 4th quarter. Alliancebernstein L.P. now owns 28,700 shares of the company’s stock valued at $2,065,000 after purchasing an additional 12,700 shares during the period. Cubist Systematic Strategies LLC bought a new position in Kodiak Sciences in the 4th quarter valued at $559,000. Finally, Jane Street Group LLC bought a new position in Kodiak Sciences in the 4th quarter valued at $468,000.
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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