Kodiak Sciences price target raised to $5 from $3 at UBS

UBS raised the firm’s price target on Kodiak Sciences to $5 from $3 and keeps a Neutral rating on the shares. UBS increased the probability of success for tarcocimab in non-proliferative diabetic retinopathy to 15% from 5% and wet AMD to 15% from 5% as well as KSI-501 in wet AMT to 15% vs. 0% after updates on clinical development plans, the analyst tells investors in a research note. At the same time, while extended dosing with tarcocimab could offer a potential benefit, the program remains a show me story, the firm says.