Cidara Therapeutics (CDTX) PT Raised to $123 at WBB Securities

WBB Securities analyst Stephen Brozak raised the price target on Cidara Therapeutics (NASDAQ: CDTX) to $123.00 (from $45.00) while maintaining a Strong Buy rating.

The analyst comments "Between what was shown by St. Jude Children’s Research Hospital investigators in their presentation of the pre-clinical H5N1 therapeutic model at ISRV and the CD388 Topline Phase 2b NAVIGATE trial results for the prevention of seasonal influenza reported in late June, we conclude that CDTX’s anti-viral has shown game-changing efficacy. It surpassed vaccine protection levels in the adult and elderly population, and more importantly for the target market of 50 million Americans who suffer from comorbidities or immunosuppression it is unequaled. We believe that an analytical assessment of CDTX doubling from its current price is now appropriate, we are therefore raising our 12-month price target for CDTX from $45.00 to $123.00 and maintaining our Strong Buy rating."

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