Cidara Therapeutics (NASDAQ:CDTX) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a research note published on Monday morning, Benzinga reports. HC Wainwright currently has a $6.00 target price on the biotechnology company’s stock.

A number of other research firms also recently commented on CDTX. TheStreet downgraded Cidara Therapeutics from a c rating to a d+ rating in a research report on Friday, August 4th. Needham & Company LLC reissued a buy rating and issued a $3.00 price objective on shares of Cidara Therapeutics in a research note on Friday, September 22nd. StockNews.com started coverage on shares of Cidara Therapeutics in a report on Thursday, October 5th. They issued a buy rating on the stock. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $5.00 price target on shares of Cidara Therapeutics in a report on Tuesday, August 1st. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $4.67.

Cidara Therapeutics Trading Down 1.2 %

NASDAQ:CDTX opened at $0.80 on Monday. The company has a market capitalization of $72.20 million, a P/E ratio of -6.15 and a beta of 1.20. The business’s 50-day moving average is $0.92 and its 200 day moving average is $1.03. Cidara Therapeutics has a 12 month low of $0.46 and a 12 month high of $2.10.

Institutional Investors Weigh In On Cidara Therapeutics

Several institutional investors have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC purchased a new stake in Cidara Therapeutics in the 1st quarter worth about $846,000. BlackRock Inc. lifted its stake in shares of Cidara Therapeutics by 459.9% during the 1st quarter. BlackRock Inc. now owns 741,713 shares of the biotechnology company’s stock worth $942,000 after acquiring an additional 609,247 shares during the last quarter. Millennium Management LLC grew its position in Cidara Therapeutics by 724.1% in the 4th quarter. Millennium Management LLC now owns 689,917 shares of the biotechnology company’s stock valued at $522,000 after acquiring an additional 606,201 shares during the last quarter. Monashee Investment Management LLC purchased a new stake in shares of Cidara Therapeutics during the first quarter valued at $469,000. Finally, XTX Topco Ltd boosted its position in Cidara Therapeutics by 201.8% in the 2nd quarter. XTX Topco Ltd now owns 449,138 shares of the biotechnology company’s stock valued at $508,000 after buying an additional 300,303 shares during the period. Institutional investors own 29.09% of the company’s stock.

About Cidara Therapeutics

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.