Cantor Fitzgerald analyst Louise Chen maintained a Buy rating on Cidara Therapeutics (CDTX – Research Report) today and set a price target of $15. The company’s shares opened today at $4.13, close to its 52-week low of $3.36.
“. Post a solid quarter of execution, we reiterate our OW rating and 12-month PT of $15 for CDTX shares. We think the Street underappreciates the sales potential of CDTX’s two pipeline assets: 1) Rezafungin for the treatment of life-threatening invasive fungal infections, and 2) Cloudbreak, an antimicrobial immunotherapy for the treatment of MDR gram-negative bacterial infections. Therefore, we expect pipeline advancements to drive upward earnings revisions to levels not yet reflected in FactSet consensus expectations. This should move CDTX’s stock higher.”
According to TipRanks.com, Chen is a 5-star analyst with an average return of 17.6% and a 45.1% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Amneal Pharmaceuticals Inc, and Aridis Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cidara Therapeutics with a $14.50 average price target.
The company has a one-year high of $8.55 and a one-year low of $3.36. Currently, Cidara Therapeutics has an average volume of 95.16K.
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Cidara Therapeutics, Inc. operates as a clinical-stage biopharmaceutical company, which engages in the research and development of anti-infectives for the treatment of fungal infections. Its portfolio includes CD101 IV, CD101 Topical, and Cloudbreak.