Chardan Capital Believes Kodiak Sciences Inc (NASDAQ: KOD) Won’t Stop Here

By Carrie Williams

Chardan Capital analyst Gbola Amusa reiterated a Buy rating on Kodiak Sciences Inc (KODResearch Report) today and set a price target of $22.50. The company’s shares closed yesterday at $11.80, close to its 52-week high of $12.16.

Amusa wrote:

“We thought it notable that CMO and CDO PhD spent 10 years at unrated Roche (Genentech), including as global head of late- stage ophthalmology, where his team was responsible for pivotal studies and he headed programs such as Lucentis Port Delivery. Kodiak platform address the limitations (e.g. treatment burden) of anti-VEGF therapies (>$10.5 bn in 2018 sales). With KSI-301, Kodiak hopes to address the leading global causes of blindness, namely aging and diabetes. Despite the size of the existing anti- VEGF market, an unmet medical need exists since, after 3 years or so of treatment, patients (under optimal care) typically have vision close to or worse than when the patients started anti-VEGF treatment.”

According to TipRanks.com, Amusa is a 5-star analyst with an average return of 18.2% and a 51.1% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Logicbio Therapeutics Inc, Axovant Gene Therapies, and Crispr Therapeutics AG.

Currently, the analyst consensus on Kodiak Sciences Inc is a Moderate Buy with an average price target of $22.50.

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The company has a one-year high of $12.16 and a one-year low of $5.65. Currently, Kodiak Sciences Inc has an average volume of 93.81K.

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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.