Cidara Therapeutics price target raised to $35 from $33 at Guggenheim

Guggenheim raised the firm’s price target on Cidara Therapeutics (CDTX) to $35 from $33 and keeps a Buy rating on the shares after speaking to management following the company’s Q1 earnings release. The firm remains “bullish” on CD388’s “multi-billion dollar blockbuster opportunity” and views the recent stock decline due to HHS appointments as “completely unfounded given both CDTX’s unique antiviral approach to flu disease prevention and review by CDER,” says the analyst, who “strongly” encourages investors to build a position as anticipation and interest builds ahead of the late June NAVIGATE readout.