Cidara Therapeutics price target raised to $123 from $45 at WBB Securities

WBB Securities raised the firm’s price target on Cidara Therapeutics (CDTX) to $123 from $45 and keeps a Strong Buy rating on the shares. The firm believes the company’s CD388 antiviral program platform is leading a “paradigm shift” in influenza treatment. CD388 is effective in seasonal strains and has also shown efficacy in preventing Avian Influenza in the prevailing test model, the analyst tells investors in a research note. WBB believes CD388 is “formidable in its strength in preventing seasonal flu.”