Guggenheim analyst Seamus Fernandez raised the firm’s price target on Cidara Therapeutics (CDTX) to $50 from $35 and keeps a Buy rating on the shares. Based on “increased enthusiasm” for CD388’s efficacy and potential CD388 pricing power, the firm is raising its target ahead of Cidara’s upcoming analyst day on May 22 and top-line NAVIGATE Phase 2b data in later June, the analyst tells investors. The firm is “increasingly bullish on CD388’s multi-blockbuster potential,” the analyst added.
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