Cidara Therapeutics (NASDAQ:CDTX) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a research report released on Tuesday,Benzinga reports.

CDTX has been the subject of a number of other reports. Needham & Company LLC lifted their target price on shares of Cidara Therapeutics from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Citizens Jmp assumed coverage on shares of Cidara Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $46.00 target price for the company. Guggenheim boosted their target price on shares of Cidara Therapeutics from $35.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 16th. JMP Securities restated a “market outperform” rating and set a $47.00 price objective on shares of Cidara Therapeutics in a research report on Monday, June 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective (up from $31.00) on shares of Cidara Therapeutics in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.00.

Cidara Therapeutics Trading Up 3.1%

Cidara Therapeutics stock opened at $26.17 on Tuesday. The firm has a 50-day moving average price of $21.33 and a 200-day moving average price of $21.83. The firm has a market capitalization of $328.35 million, a PE ratio of -1.03 and a beta of 0.79. Cidara Therapeutics has a 12-month low of $10.14 and a 12-month high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($1.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($5.45) by $3.79. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%. As a group, sell-side analysts predict that Cidara Therapeutics will post -8.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cidara Therapeutics

Hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Cidara Therapeutics in the fourth quarter valued at approximately $56,000. Point72 Asset Management L.P. purchased a new position in Cidara Therapeutics in the fourth quarter valued at approximately $165,000. American Century Companies Inc. purchased a new position in shares of Cidara Therapeutics during the first quarter worth approximately $224,000. West Michigan Advisors LLC purchased a new position in shares of Cidara Therapeutics during the first quarter worth approximately $291,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Cidara Therapeutics during the fourth quarter worth approximately $339,000. Hedge funds and other 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.