Cantor Fitzgerald Thinks Cidara Therapeutics’ Stock is Going to Recover
In a report released today, Louise Chen from Cantor Fitzgerald maintained a Buy rating on Cidara Therapeutics (CDTX), with a price target of $15. The company’s shares opened today at $2.59, close to its 52-week low of $1.94.
“CDTX’s pipeline is focused on better ways to treat fungal and bacterial infections as well as influenza. We expect pipeline advancements to drive upwards earnings revisions to levels not yet reflected in the consensus. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $15.”
According to TipRanks.com, Chen is a 5-star analyst with an average return of 14.7% and a 40.9% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Amneal Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cidara Therapeutics with a $12 average price target, representing a 363.3% upside. In a report issued on March 1, Needham also maintained a Buy rating on the stock with a $14 price target.
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The company has a one-year high of $8.55 and a one-year low of $1.94. Currently, Cidara Therapeutics has an average volume of 106.5K.
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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.