Cidara Therapeutics Inc (CDTX) Receives $13.25 Average PT from Brokerages

Shares of Cidara Therapeutics Inc (NASDAQ:CDTX) have earned a consensus rating of “Buy” from the seven analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $13.25.

A number of equities analysts recently weighed in on CDTX shares. Zacks Investment Research upgraded Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, May 28th. ValuEngine upgraded Cidara Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, June 1st. WBB Securities upgraded Cidara Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, May 23rd. Cantor Fitzgerald set a $15.00 price objective on Cidara Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, September 4th. Finally, Citigroup began coverage on Cidara Therapeutics in a research report on Wednesday, July 25th. They set a “buy” rating and a $8.00 price objective for the company.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Trexquant Investment LP raised its stake in shares of Cidara Therapeutics by 119.9% during the 1st quarter. Trexquant Investment LP now owns 32,845 shares of the biotechnology company’s stock worth $131,000 after purchasing an additional 17,912 shares in the last quarter. Northern Trust Corp raised its stake in shares of Cidara Therapeutics by 102.5% in the 1st quarter. Northern Trust Corp now owns 35,581 shares of the biotechnology company’s stock valued at $142,000 after acquiring an additional 18,014 shares in the last quarter. BlackRock Inc. raised its stake in shares of Cidara Therapeutics by 265.0% in the 1st quarter. BlackRock Inc. now owns 249,540 shares of the biotechnology company’s stock valued at $998,000 after acquiring an additional 181,177 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Cidara Therapeutics by 87.0% in the 1st quarter. JPMorgan Chase & Co. now owns 69,172 shares of the biotechnology company’s stock valued at $277,000 after acquiring an additional 32,181 shares in the last quarter. Finally, Guggenheim Capital LLC raised its stake in shares of Cidara Therapeutics by 117.3% in the 1st quarter. Guggenheim Capital LLC now owns 223,903 shares of the biotechnology company’s stock valued at $895,000 after acquiring an additional 120,878 shares in the last quarter. Hedge funds and other institutional investors own 67.14% of the company’s stock.

CDTX traded down $0.05 during trading hours on Thursday, hitting $4.25. 66,864 shares of the stock were exchanged, compared to its average volume of 120,847. Cidara Therapeutics has a 12 month low of $3.65 and a 12 month high of $8.80. The stock has a market capitalization of $117.63 million, a PE ratio of -1.34 and a beta of 1.98. The company has a debt-to-equity ratio of 0.12, a current ratio of 7.11 and a quick ratio of 7.11.

Cidara Therapeutics (NASDAQ:CDTX) last issued its earnings results on Wednesday, August 8th. The biotechnology company reported ($1.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.66) by ($0.47). research analysts anticipate that Cidara Therapeutics will post -2.53 earnings per share for the current fiscal year.

Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of anti-infectives for the treatment of diseases. Its lead product candidate is rezafungin acetate, a molecule in the echinocandin class of antifungals for the treatment and prevention of serious invasive fungal infections, including candidemia and invasive candidiasis, fungal infections associated with high mortality rates.

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Analyst Recommendations for Cidara Therapeutics (NASDAQ:CDTX)

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