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.

While we acknowledge the potential of CDTX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CDTX and that has 100x upside potential, check out our report about this cheapest AI stock.

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