Cidara Therapeutics, Inc. (NASDAQ:CDTX) Receives Average Recommendation of “Buy” from Analysts

Cidara Therapeutics, Inc. (NASDAQ:CDTXGet Rating) has received an average rating of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $6.06.

Several equities research analysts recently weighed in on CDTX shares. Needham & Company LLC restated a “buy” rating and set a $6.00 price target on shares of Cidara Therapeutics in a research report on Tuesday, March 8th. Aegis restated a “buy” rating on shares of Cidara Therapeutics in a research report on Wednesday, March 16th. StockNews.com initiated coverage on Cidara Therapeutics in a research note on Wednesday. They issued a “hold” rating for the company. Finally, Zacks Investment Research lowered Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, February 15th.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP acquired a new position in Cidara Therapeutics in the 3rd quarter valued at $28,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Cidara Therapeutics by 64.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 88,097 shares of the biotechnology company’s stock valued at $112,000 after buying an additional 34,666 shares during the period. Jeppson Wealth Management LLC raised its position in Cidara Therapeutics by 15.4% during the third quarter. Jeppson Wealth Management LLC now owns 60,100 shares of the biotechnology company’s stock worth $134,000 after acquiring an additional 8,000 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Cidara Therapeutics by 58.5% in the fourth quarter. Northern Trust Corp now owns 110,497 shares of the biotechnology company’s stock valued at $140,000 after purchasing an additional 40,775 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Cidara Therapeutics in the fourth quarter valued at $150,000. Hedge funds and other institutional investors own 46.27% of the company’s stock.

Shares of CDTX stock opened at $0.78 on Wednesday. The stock has a market capitalization of $52.82 million, a PE ratio of -0.92 and a beta of 1.34. Cidara Therapeutics has a one year low of $0.63 and a one year high of $2.39. The business’s 50 day simple moving average is $0.79 and its 200 day simple moving average is $1.12.

Cidara Therapeutics (NASDAQ:CDTXGet Rating) last posted its quarterly earnings results 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. The company had revenue of $7.23 million during the quarter, compared to the consensus estimate of $3.91 million. Cidara Therapeutics had a negative return on equity of 465.76% and a negative net margin of 89.48%. Sell-side analysts predict that Cidara Therapeutics will post -1 earnings per share for the current year.

Cidara Therapeutics Company Profile (Get Rating)

Cidara Therapeutics, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States. The company's lead product candidate is rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates.

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Analyst Recommendations for Cidara Therapeutics (NASDAQ:CDTX)

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