Wedbush Reiterates Outperform on Cidara Therapeutics (CDTX) Following 2Q

August 16, 2016 8:21 AM EDT
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Price: $9.25 +1.09%

Rating Summary:
    7 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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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."

For an analyst ratings summary and ratings history on Cidara Therapeutics click here. For more ratings news on Cidara Therapeutics click here.

Shares of Cidara Therapeutics closed at $11.98 yesterday.

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