Cidara Therapeutics (CDTX) Hits New 12-Month Low at $1.92

Cidara Therapeutics Inc (NASDAQ:CDTX)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $1.92 and last traded at $2.02, with a volume of 3417 shares. The stock had previously closed at $2.11.

A number of equities research analysts have recently commented on CDTX shares. Wedbush lowered their price target on shares of Cidara Therapeutics from $12.00 to $7.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Zacks Investment Research downgraded shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, January 16th. Cantor Fitzgerald reiterated a “buy” rating and set a $15.00 price target on shares of Cidara Therapeutics in a report on Monday, April 15th. Finally, ValuEngine downgraded shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Cidara Therapeutics presently has an average rating of “Buy” and an average target price of $9.40.

The firm has a market capitalization of $53.55 million, a P/E ratio of -0.90 and a beta of 2.13. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.04.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.60) EPS for the quarter, hitting analysts’ consensus estimates of ($0.60). Analysts expect that Cidara Therapeutics Inc will post -1.79 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Two Sigma Investments LP grew its holdings in Cidara Therapeutics by 96.6% in the fourth quarter. Two Sigma Investments LP now owns 29,349 shares of the biotechnology company’s stock valued at $69,000 after purchasing an additional 14,421 shares during the period. Trellus Management Company LLC grew its holdings in Cidara Therapeutics by 105.8% in the fourth quarter. Trellus Management Company LLC now owns 94,143 shares of the biotechnology company’s stock valued at $221,000 after purchasing an additional 48,391 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Cidara Therapeutics by 27.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 269,872 shares of the biotechnology company’s stock valued at $634,000 after purchasing an additional 57,306 shares during the period. BlackRock Inc. grew its holdings in Cidara Therapeutics by 1.9% in the fourth quarter. BlackRock Inc. now owns 291,512 shares of the biotechnology company’s stock valued at $685,000 after purchasing an additional 5,563 shares during the period. Finally, Raymond James & Associates grew its stake in Cidara Therapeutics by 38.2% during the fourth quarter. Raymond James & Associates now owns 331,351 shares of the biotechnology company’s stock worth $779,000 after buying an additional 91,553 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

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About Cidara Therapeutics (NASDAQ:CDTX)

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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