Shares of Kodiak Sciences Inc. (KOD) are soaring 5.08% in intraday trading on Friday, following a bullish analyst move. The surge comes just days before the company is set to report its third-quarter earnings.

The catalyst for the stock's upward movement appears to be Barclays' decision to raise its target price for Kodiak Sciences. The investment bank has increased its price target from $4 to $7, signaling increased confidence in the company's prospects. This represents a significant 75% increase in the target price, which has evidently sparked investor enthusiasm.

Investors are likely interpreting this target price hike as a positive indicator for Kodiak Sciences' upcoming earnings report, scheduled for Monday. The market will be closely watching the Q3 results to see if they align with the optimism reflected in Barclays' upgraded outlook. As always, investors are advised to consider their own research and risk tolerance when making investment decisions.