Cidara Therapeutics initiated with an Outperform at Citizens JMP

Citizens JMP analyst Roy Buchanan initiated coverage of Cidara Therapeutics (CDTX) with an Outperform rating and $46 price target Potential Phase 2b results for influenza prevention expected in Q2 could point to a billion-dollar opportunity, while supporting the broader viability of Cidara’s novel platform technology, the analyst tells investors in a research note. The firm says the company is developing a hybrid small-molecule technology called drug-Fc conjugates, which have a distinct therapeutic mechanism, in effect ultra-long, half-life small molecules.