Chardan Capital Remains a Buy on Kodiak Sciences (KOD)

By Carrie Williams

In a report released today, Gbola Amusa from Chardan Capital reiterated a Buy rating on Kodiak Sciences (KODResearch Report), with a price target of $40.00. The company’s shares closed last Monday at $29.60, close to its 52-week high of $32.42.

According to TipRanks.com, Amusa is a 5-star analyst with an average return of 22.9% and a 52.0% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Adverum Biotechnologies, Rocket Pharmaceuticals, and Axovant Gene Therapies.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Kodiak Sciences with a $33.00 average price target.

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Based on Kodiak Sciences’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $12.38 million. In comparison, last year the company had a GAAP net loss of $10.45 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.