Guggenheim raised the firm’s price target on Cidara Therapeutics (CDTX) to $68 from $50 and keeps a Buy rating on the shares, stating that the NAVIGATE Phase 2b data “reflect striking efficacy” and a clean safety profile. With results exceeding the firm’s bull case scenario and providing critical validation of CD388 as “a compelling flu prevention option,” the firm believes CD388 has “clear blockbuster potential,” the analyst tells investors.
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