Street Calls of the Week
Investing.com - JPMorgan has upgraded Kodiak Sciences Inc. (NASDAQ:KOD) from Neutral to Overweight and raised its price target to $24.00 from $15.00. The stock has shown remarkable momentum, delivering a 311% return over the past year according to InvestingPro data.
The upgrade is based on JPMorgan’s view that Kodiak’s KSI-101, an anti-IL-6/VEGF-trap bispecific treatment for macular edema secondary to inflammation (MESI), is de-risked and could drive upside as investors better appreciate the market opportunity. With analyst targets ranging from $2 to $22, the stock currently maintains a moderate consensus rating.
Data from the phase 3 PEAK and PINNACLE studies of KSI-101 are expected in the fourth quarter of 2026 and first quarter of 2027, respectively, according to JPMorgan’s research note.
Results from the phase 1b APEX study with KSI-101 in MESI presented at the Retina Society last month showed promising outcomes, including a mean change in BCVA increase of more than 2-lines at week 12, with over 50% of patients experiencing at least 3-line gains at the highest doses.
JPMorgan also noted that recent competitive updates for vamigibart in uveitic macular edema provide evidence that IL-6 is a viable mechanism in inflammatory ocular diseases, which further de-risks Kodiak’s KSI-101 program. While the company maintains a strong liquidity position with a current ratio of 3.48, InvestingPro analysis reveals additional key metrics and insights available to subscribers.
In other recent news, Kodiak AI has garnered attention after Soros Fund Management disclosed a 5.7% stake in the company. This revelation came through a Schedule 13G filing with the Securities and Exchange Commission, indicating that entities managed by Soros Fund Management now beneficially own nearly 10 million shares of Kodiak AI. Meanwhile, Kodiak Sciences has seen a series of analyst actions that have impacted its stock. Barclays upgraded its rating on Kodiak Sciences from Underweight to Equalweight, raising the price target to $17.00, following promising data from the Phase 2 BARDENAS trial. This upgrade came after Jefferies initiated coverage with a Buy rating and a $15.00 price target, emphasizing the company’s three drugs in Phase III clinical trials. Additionally, H.C. Wainwright maintained a Neutral rating with a $5.00 price target after new data from Kodiak’s Phase 1b APEX study showed promising results for its intravitreal candidate KSI-101. These developments highlight recent moves and assessments from major investment firms regarding Kodiak AI and Kodiak Sciences.
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