Cidara Therapeutics price target raised to $167 from $70 at Guggenheim

Guggenheim analyst Seamus Fernandez raised the firm’s price target on Cidara Therapeutics (CDTX) to $167 from $70 and keeps a Buy rating on the shares. FDA end-of-Phase 2 feedback exceeded the firm’s expectations, with the ANCHOR Phase 3 study population now broadened and expected to start dosing before the end of this month, the analyst tells investors. The firm would characterize the FDA discussion as “strong support and validation,” the analyst added.