After Northland Securities and Maxim Group gave Aridis Pharmaceuticals Inc (NASDAQ: ARDS) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Louise Chen maintained a Buy rating on Aridis Pharmaceuticals Inc today and set a price target of $25. The company’s shares opened today at $9.85.
Chen observed:
“. MedImmune (Not Covered) presented important Phase 2 suvratoxumab data with read-throughs to ECCMID, conference, which is taking place in we reiterate our OW rating and 12-month PT of $25 on shares of ARDS. MedImmune’s data establish two things for ARDS’s pipeline of mAbs to treating infectious diseases: 1) that the biological mechanism of action works and 2) the drugs are likely to be safe. We expect ARDS to report positive, Phase 2 data for and positive interim Phase 3 data for AR-301 in 1Q20.”
According to TipRanks.com, Chen is a 4-star analyst with an average return of 10.0% and a 43.0% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Amneal Pharmaceuticals Inc, and Melinta Therapeutics Inc.
Currently, the analyst consensus on Aridis Pharmaceuticals Inc is a Strong Buy with an average price target of $30, a 204.7% upside from current levels. In a report issued on April 1, Maxim Group also maintained a Buy rating on the stock with a $25 price target.
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The company has a one-year high of $13.85 and a one-year low of $7.59. Currently, Aridis Pharmaceuticals Inc has an average volume of 4,445.
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Aridis Pharmaceuticals, Inc. engages in the discovery and development of targeted immunotherapy using fully human monoclonal antibodies, or mAbs, to treat life-threatening infections. Its products include AR-301, AR-105, AR-101, AR-401, AR-201, and AR-501. The company was founded by Eric J. Patzer and Vu L. Truong in 2003 and is headquartered in San Jose, CA.
