Cidara Therapeutics (CDTX) PT Raised to $69 at Guggenheim

Guggenheim analyst Seamus Fernandez raised the price target on Cidara Therapeutics (NASDAQ: CDTX) to $69.00 (from $68.00) while maintaining a Buy rating.

The analyst commented: "We are updating our model following CDTX's recent equity capital raise and the NAVIGATE Phase 2b data, which in our view provided critical validation of CD388 as a compelling flu prevention option (takeaways here). CD388's >70% protective efficacy at the 450mg dose in healthy adults and clean safety profile, combined with broad protection against influenza (including pandemic strains), in our view supports multibillion dollar blockbuster potential with significant differentiation from both current enhanced vaccines and antivirals. Further, we believe these data set a higher bar for pipeline programs such as MRNA's (NC) mRNA-1010 vaccine that recently reported Phase 3 data. In our view, CDTX is now exceptionally well positioned to execute on its Phase 3 program, with initiation potentially as early as this Fall in the Northern Hemisphere (base case is a start in Spring 2026 in the Southern Hemisphere) alongside continued formulation development. A potential BARDA funding decision offers additional upside optionality as early as September 2025. Our PT is now $69/share vs $68 prior; reiterate BUY."

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