H.C. Wainwright maintains Neutral rating on Kodiak Sciences stock at $5

Investing.com - H.C. Wainwright has reiterated its Neutral rating and $5.00 price target on Kodiak Sciences Inc. (NASDAQ:KOD), which has seen its stock surge nearly 250% over the past year. According to InvestingPro analysis, the stock appears undervalued at current levels, despite showing significant volatility with a beta of 2.45.

The data, presented at the Retina Society annual scientific meeting in Chicago, showed that Kodiak’s intravitreal candidate KSI-101 demonstrated clinically meaningful vision gains and rapid retinal drying through Week 12 in patients with macular edema secondary to inflammation (MESI).

KSI-101 showed meaningful vision improvements as early as Week 4, with over half of patients receiving the top two doses experiencing gains of 15 or more letters. The majority of patients achieved resolution of intra- and sub-retinal fluid, with more than 90% reaching retinal dryness by Week 8 after a single dose.

The Phase 3 PEAK and PINNACLE trials for KSI-101 continue to enroll patients, focusing on the top two doses (5mg and 10mg) in MESI patients. These trials will further evaluate the drug’s efficacy in this patient population.

Despite the positive data showing KSI-101’s progress in addressing unmet needs in MESI patients, H.C. Wainwright maintained its Neutral stance, noting it awaits ABC platform validation from reformulated tarcocimab and KSI-501 before reconsidering its rating. InvestingPro data reveals the company maintains a healthy current ratio of 3.48, though it operates with moderate debt levels. Subscribers can access 10+ additional ProTips and detailed financial metrics to better evaluate Kodiak’s investment potential.

In other recent news, Kodiak Sciences has seen notable developments that may interest investors. H.C. Wainwright increased its price target for Kodiak Sciences to $5.00 from $3.00, maintaining a Neutral rating. This adjustment comes after interim data from the Phase 1b APEX trial, which evaluated KSI-101 in patients with diabetic macular edema and macular edema secondary to inflammation. Additionally, JPMorgan upgraded Kodiak Sciences from Underweight to Neutral, setting a price target of $15.00 for December 2026. According to JPMorgan, the company is entering a "catalyst-rich period" over the next two years. This period is expected to yield pivotal data for key products, including tarcocimab, KSI-501, and KSI-101. These recent developments highlight the ongoing progress and potential future milestones for Kodiak Sciences.

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