Kodiak Sciences Inc. (KOD) PT Lowered to $138 at BMO Capital
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BMO Capital analyst Matthew Luchini lowered the price target on Kodiak Sciences Inc. (NASDAQ: KOD) to $138.00 (from $148.00) while maintaining a Market Perform rating.
The analyst commented, "Kodiak reported 4Q20 GAAP EPS of ($0.97), lower than our ($0.77) and consensus' ($0.53), due to higher operating expenses. While the KSI-301 Phase 1b data presented at Angiogenesis provides good proof of concept, we believe current levels reflect KSI-301's progress to date, and we remain on the sidelines ahead of pivotal top-line data readouts expected in 2022. We update our model for 4Q20 results and lower our target price to $138 on higher spending expectations. Maintain Market Perform rating."
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