In a report released today, Gbola Amusa from Chardan Capital reiterated a Buy rating on Kodiak Sciences Inc (KOD), with a price target of $22.50. The company’s shares closed last Monday at $14.99, close to its 52-week high of $15.25.
“We are positive on the latest Kodiak data, which supports our thesis that KSI-301 maintains the key attributes of approved anti-VEGF therapies (antibody based, intravitreal, optically clear, no residues) and is optimized for extended durability. We will follow up on these preliminary thoughts with a model update in future research.”
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 18.6% and a 50.9% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Catalyst Biosciences Inc, and Voyager Therapeutics Inc.
Kodiak Sciences Inc has an analyst consensus of Moderate Buy, with a price target consensus of $22.50.
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Based on Kodiak Sciences Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $11.39 million. In comparison, last year the company had a GAAP net loss of $4.58 million.
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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.