Needham analyst Joseph Stringer has maintained their bullish stance on CDTX stock, giving a Buy rating on October 23.
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Joseph Stringer has given his Buy rating due to a combination of factors including the progress of Cidara Therapeutics’ CD388 Flu program. The company is making significant strides with its Phase 3 ANCHOR trial, which is already more than halfway through its enrollment process and is expected to complete by the end of 2025.
The trial’s design includes a planned interim analysis in the first quarter of 2026, which will evaluate event rates and determine if the current trial size is adequate. This strategic approach allows for potential adjustments, such as enrolling additional subjects in the Southern Hemisphere if necessary. These developments have led to an update in revenue projections for CD388, supporting the positive outlook on the stock.
Stringer covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Gilead Sciences, and Cidara Therapeutics. According to TipRanks, Stringer has an average return of 18.8% and a 46.09% success rate on recommended stocks.
In another report released on October 23, H.C. Wainwright also reiterated a Buy rating on the stock with a $150.00 price target.