In a report released today, Joseph Stringer from Needham maintained a Buy rating on Cidara Therapeutics (CDTX – Research Report), with a price target of $35.00.
Joseph Stringer’s rating is based on several factors, including the recent completion of the enrollment for the Phase 2b VIGATE Flu prevention trial of CD388, which is a significant milestone for Cidara Therapeutics. The anticipated results in the third quarter of 2025, or potentially earlier, could provide a positive catalyst for the stock if the data is favorable.
Additionally, the company’s financial position appears strong, with a cash balance of $196 million reported for the fourth quarter of 2024, which is expected to be sufficient to support operations through the Phase 2b trial readout. The appointment of a new CFO, Frank Karbe, is also seen as a positive development, potentially bringing fresh strategic insights to the company’s financial management. These factors collectively contribute to the Buy rating for Cidara Therapeutics.
According to TipRanks, Stringer is an analyst with an average return of -2.6% and a 35.64% success rate. Stringer covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Lexicon Pharmaceuticals, and Vertex Pharmaceuticals.