Kodiak Sciences (KOD) Gets a Buy Rating from Chardan Capital

By Austin Angelo

Chardan Capital analyst Gbola Amusa reiterated a Buy rating on Kodiak Sciences (KODResearch Report) today and set a price target of $40.00. The company’s shares closed last Monday at $23.30, close to its 52-week high of $24.25.

According to TipRanks.com, Amusa is a 5-star analyst with an average return of 18.1% and a 50.0% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Adverum Biotechnologies, and Axovant Gene Therapies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Kodiak Sciences with a $36.50 average price target, a 67.4% upside from current levels. In a report issued on November 5, Morgan Stanley also maintained a Buy rating on the stock with a $33.00 price target.

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Based on Kodiak Sciences’ 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 $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.