Cantor Fitzgerald analyst Louise Chen maintained a Buy rating on Cidara Therapeutics (NASDAQ: CDTX) today and set a price target of $15. The company’s shares closed on Friday at $4.25, close to its 52-week low of $3.65.
Chen commented:
“Cidara’s pipeline is focused on better ways to treat serious fungal and bacterial infections. 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 ranked 0 out of 5 stars with an average return of -3.3% and a 42.2% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Melinta Therapeutics Inc, and Aclaris Therapeutics Inc.
Cidara Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $12.33.
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Based on Cidara Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $26.64 million. In comparison, last year the company had a GAAP net loss of $16.65 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.
