Maxwell Skor, an analyst from Morgan Stanley, has initiated a new Buy rating on Cidara Therapeutics (CDTX).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Maxwell Skor has given his Buy rating due to a combination of factors surrounding Cidara Therapeutics and its promising lead candidate, CD388. This long-acting antiviral is positioned as a significant player in the influenza prophylaxis market, offering a single-dose prevention option that complements existing vaccines and serves as a standalone alternative for certain populations. The anticipated Phase 3 interim data in June 2026 is expected to highlight CD388’s broad protection and season-long durability, which are key differentiators in the market.
Skor’s confidence is further bolstered by CD388’s FDA Fast Track and Breakthrough Therapy designations, along with positive Phase 2b results. The drug targets a sizable market opportunity of over $5 billion, addressing a broad population in the U.S., including those who are poor vaccine responders or have an aversion to vaccination. With Cidara’s strong financial position, evidenced by their substantial cash reserves, the company is well-equipped to advance through the Phase 3 program, making it an attractive investment opportunity.
In another report released on October 10, J.P. Morgan also initiated coverage with a Buy rating on the stock with a $200.00 price target.