Wedbush Reiterates Outperform on Cidara Therapeutics (CDTX) Following 2Q
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Wedbush reiterated an Outperform rating and $22.00 price target on Cidara Therapeutics (NASDAQ: CDTX) following the company's 2Q. CDTX reported a net loss of ($11.9M) or ($0.85)/share, below the consensus of ($0.76), on higher than expected R&D costs.
Analyst David Nierengarten commented, "With CD101 demonstrating potent antifungal activity in animal studies, and Ph 1 trials confirming improved PK, we see a high probability of success for CD101’s Ph 2 program."
Shares of Cidara Therapeutics closed at $11.98 yesterday.
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