Cidara Therapeutics (NASDAQ:CDTX) Upgraded to “Sell” at StockNews.com

Cidara Therapeutics (NASDAQ:CDTX) was upgraded by investment analysts at StockNews.com to a “sell” rating in a note issued to investors on Wednesday.

CDTX has been the subject of a number of other research reports. JMP Securities set a $46.00 price target on shares of Cidara Therapeutics in a report on Wednesday, March 12th. Citigroup initiated coverage on Cidara Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating for the company. Citizens Jmp began coverage on Cidara Therapeutics in a research note on Wednesday, March 12th. They set an “outperform” rating and a $46.00 price target on the stock. HC Wainwright raised their price objective on Cidara Therapeutics from $24.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $35.00 target price on shares of Cidara Therapeutics in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $39.14.

Cidara Therapeutics Price Performance

Shares of CDTX stock opened at $20.00 on Wednesday. The stock’s fifty day moving average price is $21.38 and its 200 day moving average price is $19.14. Cidara Therapeutics has a 1-year low of $10.00 and a 1-year high of $28.42. The company has a market cap of $219.06 million, a price-to-earnings ratio of -0.78 and a beta of 0.89.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.28) by ($0.10). Cidara Therapeutics had a negative return on equity of 69.64% and a negative net margin of 289.05%. As a group, equities research analysts anticipate that Cidara Therapeutics will post -8.74 earnings per share for the current year.

Insider Activity at Cidara Therapeutics

In related news, insider Leslie Tari sold 1,773 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total transaction of $38,935.08. Following the sale, the insider now owns 16,215 shares in the company, valued at approximately $356,081.40. This trade represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Shane Ward sold 1,664 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total transaction of $36,541.44. Following the completion of the transaction, the chief operating officer now owns 14,674 shares of the company’s stock, valued at approximately $322,241.04. This trade represents a 10.18 % decrease in their position. The disclosure for this sale can be found here. 7.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cidara Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cidara Therapeutics in the fourth quarter valued at approximately $56,000. Point72 Asset Management L.P. purchased a new stake in Cidara Therapeutics during the fourth quarter worth about $165,000. OMERS ADMINISTRATION Corp purchased a new stake in Cidara Therapeutics during the 4th quarter worth approximately $339,000. Jane Street Group LLC acquired a new stake in shares of Cidara Therapeutics in the fourth quarter valued at $342,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of Cidara Therapeutics in the 4th quarter valued at about $419,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

Cidara Therapeutics Company Profile

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.