Aug. 6 at 6:27 PM
RBC Capital⬆️
$CDTX's PT to
$115 from
$75, reiterated at an Outperform and said, "KOL Feedback Furthers Our Optimism On '388's Ph.III Potential and Mkt Oppty"
$JNJ $RHHBY $GILD $SNY MRNA
RBC Capital added, "We consulted with a top antiviral expert who works as a pharmacoepidemiology researcher and pediatric hospitalist at a major academic center, to get his reactions to
$CDTX's recent NAVIGATE ph.llb data and better understand where '388 could fit into the prophylactic paradigm for influenza. We came out even more optimistic into the ph.Ill and on '388's ultimate market potential, which we now see as
$3.3B peak WW.
Shares may have tripled post-ph.llb, and we acknowledge fewer major NT catalysts, but we are increasingly convinced there remains a significant valuation disconnect and room for considerable additional fundamental upside. Increasing tgt to
$115 from
$75 and reiterate Outperform, Speculative Risk."
