Aridis Pharma has 67% upside – Wainwright

Wainright analyst Vernon Bernardino starts Aridis Pharma (NASDAQ:ARDS) at Buy with a $7 price target, implying 67% upside.

He writes, “While AR-105’s Phase 2 failure in Pseudomonas aeruginosa (P. aeruginosa) infection was a setback in September 2019 (editor’s note: shares fell from $12 to a current $4.20), we believe the potential for results from the ongoing Phase 3 trial with AR-301 as adjunct therapy in patients with hospital-acquired and ventilator-associated pneumonia to be a positive catalyst in early 2020 is under-appreciated. Therefore, we initiate coverage with a Buy rating and $7 price target.”

He notes that the threat of antibiotic-resistant bacteria remains pervasive, and expects ARDS’s candidates to differentiate themselves “through their potential to be active against antibiotic resistant strains of urgent threat bacteria.”

https://seekingalpha.com/news/3528691-aridis-pharma-67-upside-wainwright