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

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

Several other brokerages have also weighed in on CDTX. Zacks Investment Research lowered shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, February 15th. Needham & Company LLC reissued a “buy” rating and set a $6.00 price objective on shares of Cidara Therapeutics in a research note on Tuesday, March 8th. Finally, Aegis reaffirmed a “buy” rating on shares of Cidara Therapeutics in a research note on Wednesday, March 16th. Two 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. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $5.54.

Cidara Therapeutics stock opened at $0.75 on Thursday. The stock has a market cap of $51.12 million, a P/E ratio of -0.89 and a beta of 1.35. The company has a fifty day simple moving average of $0.78 and a 200-day simple moving average of $1.09. Cidara Therapeutics has a 12-month low of $0.63 and a 12-month high of $2.39.

Cidara Therapeutics (NASDAQ:CDTXGet Rating) last announced its quarterly earnings results on Monday, March 7th. The biotechnology company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates 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%. The firm had revenue of $7.23 million during the quarter, compared to analysts’ expectations of $3.91 million. On average, sell-side analysts expect that Cidara Therapeutics will post -1 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP acquired a new stake in shares of Cidara Therapeutics during the third quarter worth approximately $28,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Cidara Therapeutics by 64.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 88,097 shares of the biotechnology company’s stock worth $112,000 after acquiring an additional 34,666 shares during the period. Jeppson Wealth Management LLC increased its position in Cidara Therapeutics by 30.2% during the first quarter. Jeppson Wealth Management LLC now owns 143,850 shares of the biotechnology company’s stock worth $119,000 after acquiring an additional 33,325 shares during the period. Northern Trust Corp raised its stake in shares of Cidara Therapeutics by 58.5% in the 4th quarter. Northern Trust Corp now owns 110,497 shares of the biotechnology company’s stock valued at $140,000 after buying an additional 40,775 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Cidara Therapeutics in the 4th quarter valued at $150,000. 58.20% of the stock is currently owned by institutional investors.

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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