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3 Reasons Goldman Sachs Is Bullish On Kodiak Sciences

·2 min read

Kodiak Sciences Inc’s (NASDAQ: KOD) main drug candidate, KSI-301, highlights the company’s focus on innovation in a dynamic treatment landscape, according to Goldman Sachs.

The Kodiak Sciences Analyst

Graig Suvannavejh initiated coverage of Kodiak Sciences with a Buy rating and a price target of $80.

The Kodiak Sciences Thesis

Based on a proprietary platform technology, Kodiak Sciences’ KSI-301 asset is focused on ophthalmology and is in a pivotal Phase 2/3 trial, with potential in multiple retinal diseases, Suvannavejh said in the note.

He cited three main reasons for the bullish rating:

  1. Large Commercial Opportunity With Concentrated End-Market: The lead indication for KSI-301 is wet age-related macular degeneration (AMD), which represents a large commercial market, estimated at around $11.5 billion in 2019 global sales for current branded competitors.

  2. May mManingfully Reduce Treatment Burden And Improve Outcomes: The current treatments typically require dosage at one- to two-month intervals, causing long wait times for patients and significantly impacting their quality of life. KSI-301 seeks to address this problem by “meaningfully improving the duration of effect for intravitreal injections.” So, KSI-301 could push the time between injections to five months or more.

  3. Faster Product Approval With Accelerated Clinical Development Timelines: Kodiak Sciences has an aggressive clinical development plan for its lead asset. This plan has been agreed to by the FDA. With the accelerated timelines, KSI-301 could begin generating revenue across multiple indications as early as 2023.

KOD Price Action

Shares of Kodiak Sciences were trading flat at time of publication Tuesday.

Latest Ratings for KOD

Mar 2020

Goldman Sachs

Initiates Coverage On

Buy

Feb 2020

Barclays

Downgrades

Overweight

Equal-Weight

Feb 2020

SunTrust Robinson Humphrey

Initiates Coverage On

Buy

View More Analyst Ratings for KOD
View the Latest Analyst Ratings

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