Roth Capital Upgrades Kodiak Sciences Inc. (KOD) to Buy
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Roth Capital analyst Zegbeth Jallah upgraded Kodiak Sciences Inc. (NASDAQ: KOD) from Neutral to Buy with a price target of $149.00.
The analyst comments "Yesterday, Kodiak press-released its 1Q2021 earnings and corporate updates. Most notable was the announcement that Kodiak will now be initiating an additional Phase 3 wAMD study to support 4-week interval dosing of its lead drug, KSI-301. We find the change necessary given Beovu's label challenges, and would not expect this to significantly shift the BLA timeline. With recent setbacks facing competitors, KSI-301's commercial outlook remains strong. Cash on hand is sufficient to execute on KSI-301, as well as KSI-501."
Shares of Kodiak Sciences Inc. closed at $88.41 yesterday.
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