Kodiak (KOD) Reiterated at Buy by Truist Securities, Analyst Believes wAMD Trial Will be Successful, Models Peak Sales of $2.7B

Truist Securities analyst Robyn Karnauskas reiterated a Buy rating and $147.00 price target on Kodiak Sciences Inc. (NASDAQ: KOD) in light of the upcoming wAMD data.

The analyst quotes: "We remain Buy into pivotal wAMD data in 1Q22 and model peak unadj/adj sales ~$2.7B/$2.1B with durability potentially out to ~5mos, but current levels suggest peak sales of ~$1B (or 10% of branded market). We believe KOD's KSI-301 will be successful in upcoming phase 3 wAMD trial. We outline below the bar for success under different scenarios. Upside we see stock trading $120+ (>100% from current levels). It may be challenging to predict precisely where stock trades as we expect profit taking which could dampen upside. Downside, if there is major safety issues, stock could trade at cash $15/sh."

For an analyst ratings summary and ratings history on Kodiak Sciences Inc. click here. For more ratings news on Kodiak Sciences Inc. click here.

Shares of Kodiak Sciences Inc. closed at $53.37 yesterday.

Written by Vlad Schepkov | [email protected]

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