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Investing.com - Citizens JMP raised its price target on Cidara Therapeutics (NASDAQ:CDTX) to $66.00 from $59.00 while maintaining a Market Outperform rating. The new target aligns with broader analyst sentiment, as InvestingPro data shows analyst targets ranging from $66 to $115, with the stock currently trading near $62 after an impressive 388% gain over the past year.
The firm cited the platform-potential of Cidara’s Cloudbreak technology and ongoing development of CD388, which remains on track according to the analyst’s comments.
Cidara reported second-quarter 2025 results showing $517 million in cash, which is expected to fund the company beyond its Phase 3 trials.
An end-of-Phase 2 meeting with the FDA is scheduled for later this month, where Cidara will seek alignment on Phase 3 plans in light of the NAVIGATE results.
Citizens JMP noted that while Cidara remains focused on CD388, the platform has been validated as potentially relevant to various small molecules that could benefit from improved pharmacokinetic properties, and suggested the company’s strong efficacy and safety data could make it an attractive M&A target.
In other recent news, Cidara Therapeutics has seen a positive development as Guggenheim raised its stock price target to $70 from $69. This adjustment follows Cidara’s second-quarter 2025 earnings release, during which discussions with the FDA were highlighted as being on track. An end-of-Phase 2 meeting with the FDA is scheduled for later this month, with expectations for consistency in design and discussion compared to a prior Type C meeting.
Meanwhile, Sidera Therapeutics reported its second-quarter 2025 earnings, emphasizing significant progress in its product pipeline. Despite not generating revenue, Sidera maintains a strong financial position with over $500 million in cash, supported by a recent public offering. This financial strength underpins the company’s strategic initiatives and innovation focus. The market reacted positively to Sidera’s developments, as evidenced by a premarket increase in its stock. These developments reflect ongoing optimism in the company’s future prospects.
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