Street Calls of the Week
Investing.com - H.C. Wainwright reiterated its Buy rating and $150.00 price target on Cidara Therapeutics (NASDAQ:CDTX), which has seen its stock surge over 800% in the past year. According to InvestingPro data, analyst targets range from $100 to $200, with a strong consensus recommendation of 1.75 (Buy).
The data, presented at the European Scientific Working Group on Influenza’s 10th Influenza Conference, demonstrated that mice receiving a single 1mg/kg dose of CD388 showed potent activity against 12 seasonal and multiple pandemic influenza subtypes, with plasma concentrations at infection time providing complete protection.
These preclinical results establish a translational pharmacokinetic target of >1 µg/mL in plasma that can be mapped to human dosing, creating an important link between animal studies and recent clinical outcomes from the Phase 2b NAVIGATE study.
In the Phase 2b study, CD388 demonstrated statistically significant prevention efficacy across all dose groups, with analysis showing lower drug concentrations correlated with higher infection rates, establishing a concentration-response relationship.
The findings show strong alignment between efficacious exposures in preclinical mouse models and the prevention efficacy reported in the Phase 2b NAVIGATE trial, providing support for the ongoing Phase 3 ANCHOR study. With a market capitalization of $2.44 billion and its next earnings report due on November 7, investors seeking deeper insights can access comprehensive analysis through InvestingPro’s detailed research reports, which include 10+ additional key metrics and insights about Cidara’s financial health.
In other recent news, Cidara Therapeutics presented late-breaking data on its influenza preventative candidate, CD388, at the European Scientific Working Group on Influenza’s 10th Influenza Conference. The data revealed a correlation between preclinical findings and Phase 2b NAVIGATE clinical trial results, where CD388 demonstrated significant protection against various influenza subtypes. Citizens has reiterated its Market Outperform rating for Cidara Therapeutics, maintaining a $173.00 price target, citing strong efficacy data from the NAVIGATE trial, which achieved its primary endpoint with a 76.1% prevention rate of influenza cases. Morgan Stanley initiated coverage on Cidara Therapeutics with an Overweight rating and a $190.00 price target, focusing on CD388’s potential as a long-acting, non-vaccine antiviral. Additionally, H.C. Wainwright raised its price target for Cidara to $150, following the FDA’s Breakthrough Therapy designation for CD388, aimed at preventing influenza A and B in high-risk groups. Cidara is also set to present further Phase 2 clinical data on CD388 at ID Week 2025 in Atlanta. These developments underscore the ongoing advancements in Cidara’s influenza prevention efforts.
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