RBC Capital analyst Brian Abrahams raised the firm’s price target on Cidara Therapeutics (CDTX) to $137 from $115 and keeps an Outperform rating on the shares. The firm cites the company having disclosed minutes from EoP2 meeting with the FDA, with the overall takeaways seen as positive for Phase 3 development and supporting imminent pivotal trial initiation, the analyst tells investors in a research note. The recommended inclusion of patients 65 and older could support a broader label than Street may expect, and RBC now sees more than 5 million patients taking the drug in the out-years, the firm added.
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