ValuEngine Upgrades Cidara Therapeutics (NASDAQ:CDTX) to Hold

Cidara Therapeutics (NASDAQ:CDTX) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, ValuEngine reports.

Several other brokerages also recently weighed in on CDTX. Zacks Investment Research downgraded shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Cantor Fitzgerald lowered their price target on shares of Cidara Therapeutics from $15.00 to $8.00 and set a “reduce” rating on the stock in a report on Wednesday, June 12th. Wedbush downgraded shares of Cidara Therapeutics from an “outperform” rating to a “neutral” rating and set a $2.00 price target on the stock. in a report on Friday, May 17th. Finally, Oppenheimer began coverage on shares of Cidara Therapeutics in a report on Wednesday, June 5th. They set an “outperform” rating and a $6.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $6.45.

NASDAQ CDTX traded down $0.02 during trading hours on Thursday, hitting $1.33. 70,752 shares of the company’s stock traded hands, compared to its average volume of 164,791. The stock has a fifty day simple moving average of $1.62. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.19 and a quick ratio of 3.19. The firm has a market capitalization of $35.43 million, a price-to-earnings ratio of -0.57 and a beta of 2.18. Cidara Therapeutics has a 52 week low of $1.23 and a 52 week high of $4.95.

Cidara Therapeutics (NASDAQ:CDTX) last announced its earnings results on Thursday, May 9th. The biotechnology company reported ($0.60) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.60). As a group, equities analysts predict that Cidara Therapeutics will post -2.22 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the business. Alethea Capital Management LLC lifted its holdings in Cidara Therapeutics by 17.0% in the first quarter. Alethea Capital Management LLC now owns 564,313 shares of the biotechnology company’s stock valued at $1,495,000 after buying an additional 81,956 shares during the period. Two Sigma Investments LP lifted 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 buying an additional 14,421 shares during the period. Raymond James & Associates raised its holdings in shares of Cidara Therapeutics by 38.2% during the fourth 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 period. Finally, BlackRock Inc. raised its holdings in shares of Cidara Therapeutics by 1.9% during 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. 60.32% of the stock is currently owned by institutional investors and hedge funds.

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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