Cidara Therapeutics, Inc. (NASDAQ:CDTX) Receives Consensus Rating of “Buy” from Brokerages

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTXGet Free Report) have earned a consensus rating of “Buy” from the four analysts that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $71.25.

Several equities research analysts have recently issued reports on CDTX shares. Needham & Company LLC restated a “buy” rating and issued a $25.00 target price on shares of Cidara Therapeutics in a report on Thursday, May 16th. Cantor Fitzgerald reissued an “overweight” rating on shares of Cidara Therapeutics in a research note on Thursday, June 20th. WBB Securities reaffirmed a “strong-buy” rating and set a $40.00 target price on shares of Cidara Therapeutics in a research note on Thursday, April 25th. Finally, HC Wainwright reissued a “buy” rating and set a $120.00 price target on shares of Cidara Therapeutics in a research note on Monday, April 8th.

View Our Latest Analysis on Cidara Therapeutics

Cidara Therapeutics Stock Performance

CDTX stock opened at $11.78 on Tuesday. The firm has a fifty day moving average price of $12.33 and a 200 day moving average price of $14.04. Cidara Therapeutics has a fifty-two week low of $10.00 and a fifty-two week high of $24.40. The firm has a market cap of $53.72 million, a PE ratio of -1.53 and a beta of 1.01.

Cidara Therapeutics (NASDAQ:CDTXGet Free Report) last issued its quarterly earnings data on Wednesday, May 15th. The biotechnology company reported ($2.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.50) by ($0.78). The business had revenue of $8.46 million during the quarter, compared to analysts’ expectations of $14.50 million. Cidara Therapeutics had a negative return on equity of 201.62% and a negative net margin of 73.46%. On average, equities analysts predict that Cidara Therapeutics will post -13.07 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Jeffrey Stein acquired 8,000 shares of Cidara Therapeutics stock in a transaction on Friday, June 7th. The shares were bought at an average cost of $13.21 per share, for a total transaction of $105,680.00. Following the acquisition, the chief executive officer now directly owns 24,580 shares of the company’s stock, valued at approximately $324,701.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.64% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cidara Therapeutics stock. Tocqueville Asset Management L.P. lifted its stake in Cidara Therapeutics, Inc. (NASDAQ:CDTXFree Report) by 71.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 163,000 shares of the biotechnology company’s stock after acquiring an additional 68,000 shares during the period. Tocqueville Asset Management L.P. owned 3.57% of Cidara Therapeutics worth $150,000 at the end of the most recent quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

About Cidara Therapeutics

(Get Free Report

Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes 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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