H.C. Wainwright upgraded Cidara Therapeutics to Buy from Neutral with a $24 price target. With CD388 reacquired and rezafungin divested, Cidara has a “significantly different outlook” that is now centered around its Cloudbreak drug-Fc conjugate platform, the analyst tells investors in a research note. The firm estimates the risk-adjusted value of CD388 and the market opportunity of Cidara’s DFC oncology program at a total value of $24 per share. It sees “significant upside in Cidara’s DFC programs.”
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