Cantor Fitzgerald Reaffirms Overweight Rating for Cidara Therapeutics (NASDAQ:CDTX)

Cantor Fitzgerald reissued their overweight rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a report issued on Tuesday morning, Benzinga reports.

Separately, HC Wainwright reissued a buy rating and issued a $6.00 price target on shares of Cidara Therapeutics in a report on Monday, April 8th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $4.67.

Cidara Therapeutics Price Performance

Shares of Cidara Therapeutics stock opened at $0.51 on Tuesday. Cidara Therapeutics has a fifty-two week low of $0.50 and a fifty-two week high of $1.48. The firm has a fifty day moving average price of $0.77 and a two-hundred day moving average price of $0.77. The company has a market cap of $46.44 million, a PE ratio of -1.31 and a beta of 0.98.

Hedge Funds Weigh In On Cidara Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Cidara Therapeutics by 25.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock worth $75,000 after acquiring an additional 15,912 shares during the period. Flagship Harbor Advisors LLC bought a new position in shares of Cidara Therapeutics during the 3rd quarter worth about $28,000. Finally, Pale Fire Capital SE bought a new position in shares of Cidara Therapeutics during the 3rd quarter worth about $51,000. 35.82% of the stock is owned by institutional investors.

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.