Cidara Therapeutics (NASDAQ:CDTX) Now Covered by StockNews.com

StockNews.com began coverage on shares of Cidara Therapeutics (NASDAQ:CDTXGet Rating) in a report released on Monday. The firm set a “hold” rating on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, February 15th. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price target on shares of Cidara Therapeutics in a research report on Tuesday, March 8th. Aegis reiterated a “buy” rating on shares of Cidara Therapeutics in a research report on Wednesday, March 16th. Finally, Wedbush boosted their price objective on Cidara Therapeutics from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, December 16th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cidara Therapeutics presently has an average rating of “Buy” and an average target price of $5.54.

CDTX stock opened at $0.76 on Monday. The company has a market capitalization of $51.70 million, a P/E ratio of -0.90 and a beta of 1.34. The company has a 50-day simple moving average of $0.79 and a 200 day simple moving average of $1.21. Cidara Therapeutics has a fifty-two week low of $0.63 and a fifty-two week high of $2.39.

Cidara Therapeutics (NASDAQ:CDTXGet Rating) last posted its quarterly earnings data on Monday, March 7th. The biotechnology company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.07. Cidara Therapeutics had a negative net margin of 89.48% and a negative return on equity of 465.76%. On average, sell-side analysts expect that Cidara Therapeutics will post -1 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Cidara Therapeutics by 13.4% in the 4th quarter. BlackRock Inc. now owns 376,407 shares of the biotechnology company’s stock valued at $478,000 after purchasing an additional 44,341 shares during the period. Stonepine Capital Management LLC increased its holdings in shares of Cidara Therapeutics by 195.3% in the 4th quarter. Stonepine Capital Management LLC now owns 2,311,530 shares of the biotechnology company’s stock valued at $2,936,000 after purchasing an additional 1,528,713 shares during the period. Laurion Capital Management LP acquired a new position in shares of Cidara Therapeutics in the 4th quarter valued at about $252,000. Cubist Systematic Strategies LLC acquired a new position in shares of Cidara Therapeutics in the 4th quarter valued at about $150,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Cidara Therapeutics in the 4th quarter valued at approximately $5,334,000. Institutional investors own 46.27% of the company’s stock.

Cidara Therapeutics Company Profile (Get Rating)

Cidara Therapeutics, Inc is a biotechnology company, which engages in the discovery, development, and commercialization of novel anti-infectives. Its product pipeline includes Rezafungin and Cloudbreak. The company was founded by Kevin M. Forrest, Kevin J. Judice, and H. Shaw Warren in December 2012 and is headquartered in San Diego, CA.

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