In a report released today, Gbola Amusa from Chardan Capital initiated coverage with a Buy rating on Kodiak Sciences Inc (KOD) and a price target of $22.50. The company’s shares closed yesterday at $6.83.
Amusa wrote:
“We initiate coverage on Buy rating (PT$22.50) on the potential of KSI-301 to achieve extended durability (q12w or better, vs q4w-q8w for existing therapies) in retinal diseases. Kodiak Sciences is a clinical-stage biopharmaceutical company developing novel therapeutics to treat high-prevalence ophthalmic diseases. The company’s lead asset, anti-VEGF antibody biopolymer conjugate (ABC), KSI-301, has completed a phase Ia clinical trial, which has shown sustained vision gains to 12 weeks after a single treatment of KSI-301. On the promise of these data, which were presented at the recent Angiogenesis meeting, we anticipate further positive phase KSI-301 data ahead over 2019-22 and now make for 2019. Kodiak will boldly test KSI-301 against market-leader, Eylea.”
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 13.7% and a 47.4% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Catalyst Biosciences Inc, and Voyager Therapeutics Inc.
The the analyst consensus on Kodiak Sciences Inc is currently a Hold rating.
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Based on Kodiak Sciences Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $10.45 million. In comparison, last year the company had a GAAP net loss of $4.58 million.
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Kodiak Sciences, Inc. develops novel therapies for the treatment of retinal diseases. Its preclinical stage product candidates include KSI-501, a bispecific anti-interleukin 6/VEGF bioconjugate to target inflammation and abnormal angiogenesis in the pathogenesis of retinal vascular diseases; KSI-201, a recombinant mammalian cell expressed dual inhibitor antibody biopolymer bioconjugate for the treatment of wet AMD; and KSI-401, a recombinant mammalian cell expressed antibody biopolymer conjugate for the treatment of dry AMD. The company was founded by Stephen A. Charles and Victor Perlroth in 2009 and is headquartered in Palo Alto, CA.
