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Kodiak Sciences Inc. (KOD) Up 15.7% Since Last Earnings Report: Can It Continue?

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It has been about a month since the last earnings report for Kodiak Sciences Inc. (KOD - Free Report) . Shares have added about 15.7% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Kodiak Sciences Inc. due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.

Kodiak Sciences Q2 Earnings Lag, Eye Candidate in Focus

Kodiak Sciences reported second-quarter 2021 loss per share of $1.08, wider than the Zacks Consensus Estimate of a loss of $1.04 and the year-ago loss of 58 cents.

Kodiak Sciences currently does not have any approved product in its portfolio. As a result, the company is yet to generate revenues.

Quarter in Detail

Research and development expenses were $45.4 million for the quarter, significantly up from $20.6 million in the year-ago period. The increase was driven by higher clinical activities related to KSI-301.

General and administrative expenses were $10.5 million, up 69.4% on a year-over-year basis.

As of Jun 30, 2021, Kodiak Sciences had cash worth $880.9 million compared with $929 million on Mar 31, 2021.

How Have Estimates Been Moving Since Then?

It turns out, fresh estimates have trended upward during the past month. The consensus estimate has shifted 6.06% due to these changes.

VGM Scores

Currently, Kodiak Sciences Inc. has a poor Growth Score of F, however its Momentum Score is doing a lot better with a B. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Kodiak Sciences Inc. has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.


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