Cidara Therapeutics (NASDAQ:CDTX) Earns “Buy” Rating from HC Wainwright

Cidara Therapeutics (NASDAQ:CDTX)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $24.00 price objective on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 78.44% from the company’s current price.

CDTX has been the subject of several other reports. StockNews.com upgraded Cidara Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. Guggenheim began coverage on Cidara Therapeutics in a research report on Friday, November 8th. They issued a “buy” rating and a $33.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $30.50.

Cidara Therapeutics Stock Performance

CDTX opened at $13.45 on Monday. The stock has a fifty day moving average of $11.62 and a 200-day moving average of $12.07. The company has a market capitalization of $94.69 million, a P/E ratio of -0.53 and a beta of 0.99. Cidara Therapeutics has a fifty-two week low of $10.00 and a fifty-two week high of $24.40.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings data on Tuesday, August 13th. The biotechnology company reported ($2.05) earnings per share for the quarter, topping the consensus estimate of ($3.94) by $1.89. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 109.77%. The business had revenue of $0.30 million during the quarter. On average, equities research analysts predict that Cidara Therapeutics will post -12.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cidara Therapeutics

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

About Cidara Therapeutics

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.