Analysts Offer Insights on Healthcare Companies: Cidara Therapeutics (NASDAQ: CDTX) and Corvus Pharmaceuticals Inc (NASDAQ: CRVS)

By Ryan Adsit

There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Cidara Therapeutics (NASDAQ: CDTX) and Corvus Pharmaceuticals Inc (NASDAQ: CRVS) with bullish sentiments.

Cidara Therapeutics (NASDAQ: CDTX)

In a report released today, Chiara Russo from Cantor Fitzgerald reiterated a Buy rating on Cidara Therapeutics (NASDAQ: CDTX), with a price target of $20. The company’s shares opened today at $11.10.

Russo wrote:

“In-Line 3Q16: CDTX reported 3Q16 loss of ($0.88), in line with our estimate of ($0.85). OpEx spend was also in line with our estimate at $12.3M. We expect this level of spend to be maintained through YE. CDTX finished the quarter with pro forma cash of ~$115M from the October debt and equity offering. We believe this gives them runway through 2019.”

According to TipRanks.com, Russo is a 1-star analyst with an average return of -1.1% and a 46.9% success rate. Russo covers the Healthcare sector, focusing on stocks such as Paratek Pharmaceuticals, Axsome Therapeutics Inc, and Flexion Therapeutics.

Currently, the analyst consensus on Cidara Therapeutics is Moderate Buy and the average price target is $17.50, representing a 57.7% upside.

In a report released today, Needham also reiterated a Buy rating on the stock with a $20 price target.
Corvus Pharmaceuticals Inc (NASDAQ: CRVS)

Cowen & Co. analyst Boris Peaker reiterated a Buy rating on Corvus Pharmaceuticals Inc (NASDAQ: CRVS) today. The company’s shares opened today at $16.45.

Peaker observed:

“CRVS reported initial safety and efficacy data from CPI-444’s ongoing Phase I study at.”

According to TipRanks.com, Peaker is a 5-star analyst with an average return of 9.4% and a 42.9% success rate. Peaker covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Inc., Corcept Therapeutics Inc., and Merrimack Pharmaceuticals.

Currently, the analyst consensus on Corvus Pharmaceuticals Inc is Strong Buy and the average price target is $25, representing a 52.0% upside.

In a report issued on November 3, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $23 price target.