Analyst Stephen Brozak of WBB Securities maintained a Buy rating on Cidara Therapeutics, boosting the price target to $199.00.
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Stephen Brozak has given his Buy rating due to a combination of factors that highlight Cidara Therapeutics’ promising position in the pharmaceutical industry. The recent FDA Breakthrough Therapy Designation for CD388 underscores its potential as a leading solution in influenza prevention, marking it as a significant advancement over existing therapies. This designation, along with the substantial BARDA award and the initiation of the ANCHOR Phase 3 study, positions CD388 as a frontrunner in next-generation influenza prophylaxis.
CD388’s unique mechanism, which offers long-acting protection without relying on the host’s immune response, is particularly beneficial for vulnerable populations such as the elderly and immunocompromised. The drug’s impressive 76.1% prevention efficacy, as demonstrated in Phase 2b trials, significantly surpasses the typical effectiveness of traditional vaccines. These developments not only enhance Cidara’s clinical and financial outlook but also support an upward revision of its 12-month price target to $199.00, reinforcing the Strong Buy rating.
In another report released on October 3, Citizens JMP also maintained a Buy rating on the stock with a $173.00 price target.