Kodiak Sciences initiated with a Neutral at H.C. Wainwright

H.C. Wainwright initiated coverage of Kodiak Sciences with a Neutral rating and $3 price target. Kodiak is a clinical stage biopharmaceutical company focusing on the development and commercialization of therapeutics addressing retinal vascular diseases, the analyst tells investors in a research note. The firm believes the company’s antibody biopolymer conjugate platform faces headwinds from the evolving retinal therapeutic landscape, “where efficacy and specifically defined durability reign supreme.”