H.C. Wainwright analyst Sara Nik raised the firm’s price target on Cidara Therapeutics (CDTX) to $150 from $110 and keeps a Buy rating on the shares after the company announced that the FDA has granted Breakthrough Therapy designation to CD388, targeting prevention of influenza A and B at higher risk of complications due to immunodeficiency, despite influenza vaccination, vaccine contraindicated. This represents a significant update, on top of the BARDA award last week, in the firm’s belief, which continues to highlight CD388’s potential and medical need. This FDA designation allows for potential Priority Review, and Wainwright looks forward to additional regulatory visibility as the Phase 3 ANCHOR progresses.
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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CDTX:
- Cidara Therapeutics: Strong Buy Rating Backed by Breakthrough Therapy Designation and Promising CD388 Efficacy
- Cidara Therapeutics receives U.S. FDA BTD for CD388
- Cidara Therapeutics price target raised to $173 from $153 at Citizens JMP
- Closing Bell Movers: Rumble jumps 11% on Perplexity partnership
- Cidara Therapeutics announces $339M BARDA award