After J.P. Morgan and BMO Capital gave Kodiak Sciences (NASDAQ: KOD) a Buy rating last month, the company received another Buy, this time from Morgan Stanley. Analyst Matthew Harrison maintained a Buy rating on Kodiak Sciences today and set a price target of $80.00. The company’s shares closed last Wednesday at $50.03.
According to TipRanks.com, Harrison is a 5-star analyst with an average return of 7.6% and a 54.5% success rate. Harrison covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co, Global Blood Therapeutics, and Alexion Pharmaceuticals.
Kodiak Sciences has an analyst consensus of Strong Buy, with a price target consensus of $85.29, a 64.8% upside from current levels. In a report issued on March 31, BMO Capital also initiated coverage with a Buy rating on the stock with a $74.00 price target.
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Based on Kodiak Sciences’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $15.62 million. In comparison, last year the company had a GAAP net loss of $14.66 million.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KOD in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Kodiak Sciences, Inc. is a a clinical-stage biopharmaceutical company, which engages in the development of novel therapies for the treatment of retinal diseases. Its product pipeline include KSI-301 for wet AMD; KSI-301 for diabetic eye disease; KSI-501 for DME and uveitis; KSI-201 for resistant wet AMD; and KSI-401 for dry AMD. The company was founded by Stephen A. Charles and Victor Perlroth in 2009 and is headquartered in Palo Alto, CA.
