Kodiak Sciences is a company that makes special eye drops to help people with bad eyesight. They are not doing as well as before because they lost some money. People who watch the stock market think that Kodiak might do better in the future, so they changed their predictions about how much money Kodiak will make. This is good news for Kodiak Sciences, but it did not make their stock price go up right away. Some people still think Kodiak's stock is not a good deal compared to other companies that sell similar things. Read from source...

1. The title is misleading as it implies a causal relationship between Kodiak Sciences' stock performance and its last earnings report, which may not be the case. A better title would be "Why Is Kodiak Sciences Down 26.2% Since Last Earnings Report?" or "Kodiak Sciences' Stock Performance: A Comparison with Its Last Earnings Report".
2. The article does not provide any context for the stock price drop, such as market conditions, industry trends, or company-specific news. This makes it difficult for readers to understand the underlying reasons and potential impacts on Kodiak Sciences' business and future prospects. A more comprehensive analysis should include these factors.
3. The article focuses mainly on the changes in estimates revision and VGM Scores, which are indicators of analyst sentiment and valuation. However, these metrics do not necessarily reflect the intrinsic value or growth potential of Kodiak Sciences as a company. A more balanced approach would be to also consider other factors such as revenue growth, profitability, cash flow, and competitive advantages.
4. The article does not mention any personal opinions or biases of the author, which may affect their interpretation and analysis of the data. This lack of transparency could lead readers to question the credibility and objectivity of the article. A more ethical approach would be to disclose any conflicts of interest or potential bias upfront.
5. The article uses emotional language such as "trended upward" and "doing a bit better", which may inflate or exaggerate the significance of the changes in estimates revision and VGM Scores. This could mislead readers into thinking that these metrics are more important or relevant than they actually are. A more accurate and neutral language would be to use terms such as "increased" or "improved".

Possible recommendation:
- Buy Kodiak Sciences with a target price of $30 per share (25% upside from current price) based on strong growth prospects, positive clinical data, and favorable valuation compared to peers. The stock is undervalued due to recent decline caused by lower non-cash expenses and temporary capital raising activities. The company has a solid pipeline of innovative therapies for retinal diseases, including Kodiak's proprietary TriPEP platform that enables high drug loading and sustained release. Kodakh Sciences also has a strategic partnership with the leading ophthalmology company, Halozyme Therapeutics, which provides enzyme technology for subcutaneous injection of Kodiak's product candidates.

Risks:
- The main risk factor for Kodiak Sciences is the clinical and regulatory uncertainty of its product candidates, especially KOD-01 for wet age-related macular degeneration (wet AMD), which is currently in a phase 3 study with topline results expected in Q4 2021. The success of Kodiak's pipeline depends on the efficacy and safety profile of its drugs, as well as their ability to demonstrate superiority over existing therapies, such as Aflibercept and Bevacizumab. Additionally, Kodakh Sciences may face delays or setbacks in its clinical trials due to COVID-19 pandemic, enrollment challenges, or regulatory issues. Furthermore, the company has a history of net losses and negative cash flow from operations, which may increase if it decides to expand its pipeline or pursue additional indications. Therefore, Kodiak Sciences may need to raise more capital in the future, which could dilute existing shareholders or increase debt levels.