Brokerages Set Cidara Therapeutics Inc (CDTX) Price Target at $11.00

Cidara Therapeutics Inc (NASDAQ:CDTX) has been given a consensus recommendation of “Buy” by the seven research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $11.00.

A number of research firms have recently weighed in on CDTX. Zacks Investment Research downgraded Cidara Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, February 11th. ValuEngine upgraded Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Wedbush dropped their price target on Cidara Therapeutics from $12.00 to $7.00 and set an “outperform” rating for the company in a research note on Friday, March 1st.

Several hedge funds and other institutional investors have recently bought and sold shares of CDTX. Stonepine Capital Management LLC increased its stake in Cidara Therapeutics by 54.2% in the third quarter. Stonepine Capital Management LLC now owns 656,148 shares of the biotechnology company’s stock valued at $2,887,000 after acquiring an additional 230,617 shares during the last quarter. Raymond James & Associates increased its stake in shares of Cidara Therapeutics by 38.2% in the 4th quarter. Raymond James & Associates now owns 331,351 shares of the biotechnology company’s stock valued at $779,000 after purchasing an additional 91,553 shares during the last quarter. Vanguard Group Inc increased its stake in shares of Cidara Therapeutics by 15.0% in the 3rd quarter. Vanguard Group Inc now owns 660,485 shares of the biotechnology company’s stock valued at $2,906,000 after purchasing an additional 85,979 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Cidara Therapeutics by 15.0% during the 3rd quarter. Vanguard Group Inc. now owns 660,485 shares of the biotechnology company’s stock worth $2,906,000 after buying an additional 85,979 shares in the last quarter. Finally, Bridgeway Capital Management Inc. raised its holdings in shares of Cidara Therapeutics by 90.4% during the 3rd quarter. Bridgeway Capital Management Inc. now owns 179,000 shares of the biotechnology company’s stock worth $788,000 after buying an additional 85,000 shares in the last quarter. Institutional investors and hedge funds own 63.56% of the company’s stock.

Cidara Therapeutics stock traded up $0.20 during mid-day trading on Monday, reaching $2.90. 193,152 shares of the company were exchanged, compared to its average volume of 81,820. The firm has a market cap of $75.10 million, a PE ratio of -1.25 and a beta of 2.24. Cidara Therapeutics has a 12 month low of $1.94 and a 12 month high of $6.35.

About Cidara Therapeutics

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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