Jefferies upgrades ‘major turnaround play’ Kodiak Sciences to Buy

As previously reported, Jefferies upgraded Kodiak Sciences (KOD) to Buy from Hold with a price target of $20, up from $6. With three positive Phase 3 studies with anti-VEGF tarcocimab the firm calls Kodiak “a major turnaround play.” A new near-term catalyst, with VEGF/IL-6 data in MESI inflammation coming soon, brings a “whole new angle of upside indications,” the analyst added.