Morgan Stanley Initiates Cidara Therapeutics (CDTX) With a Buy

​Cidara Therapeutics, Inc. (NASDAQ:CDTX) is one of the Hot Growth Stocks to Invest in Now. On October 16, Maxwell Skor from Morgan Stanley initiated coverage of Cidara Therapeutics, Inc. (NASDAQ:CDTX) with a Buy rating and a price target of $190.

​The analyst noted the company’s lead candidate, CD388, as one of the key reasons backing his bullish sentiment. He believes that CD388, which is an antiviral, is positioned as a major player in the influenza prophylaxis market. This is because it offers single-dose prevention, while complementing existing vaccines. Skor noted that the important phase 3 interim results are expected in June 2026. The analyst anticipates the results to demonstrate season-long durability and broad protection of CD388, which he believes are key differentiating factors.

​Skor also likes the drug’s Fast Track and Breakthrough Therapy designation. He noted that the drug’s total addressable market extends over $5 million, which presents a sizable market opportunity for the company.

​Cidara Therapeutics, Inc. (NASDAQ:CDTX) is a biotechnology company that uses its Cloudbreak platform to create drug-Fc conjugates to target diseases and activate the immune system.

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Disclosure: None. This article is originally published at Insider Monkey.