Cantor Fitzgerald Thinks Cidara Therapeutics’ Stock is Going to Recover
Cantor Fitzgerald analyst Louise Chen maintained a Buy rating on Cidara Therapeutics (CDTX) today and set a price target of $15. The company’s shares opened today at $2.90, close to its 52-week low of $1.94.
“. Post a solid quarter of execution, we reiterate our OW rating and 12-month PT of $15 for CDTX shares. We think the Street underappreciates the sales potential of CDTX’s two pipeline assets: 1) rezafungin for the treatment of life-threatening invasive fungal infections, and 2) Cloudbreak, an antimicrobial immunotherapy for the treatment of MDR gram-negative bacterial infections. Therefore, we expect pipeline advancements to drive upward earnings revisions to levels not yet reflected in FactSet expectations. This should move CDTX’s stock higher.”
According to TipRanks.com, Chen is a 5-star analyst with an average return of 15.9% and a 43.2% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Amneal Pharmaceuticals Inc.
Cidara Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $15.
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Based on Cidara Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $13.62 million. In comparison, last year the company had a GAAP net loss of $13.43 million.
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Cidara Therapeutics, Inc. operates as a clinical-stage biopharmaceutical company, which engages in the research and development of anti-infectives for the treatment of fungal infections. Its portfolio includes CD101 IV, CD101 Topical, and Cloudbreak.