Cidara Therapeutics (NASDAQ:CDTX) Now Covered by HC Wainwright

HC Wainwright started coverage on shares of Cidara Therapeutics (NASDAQ:CDTX) in a research report report published on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $41.00 price objective on the biotechnology company’s stock.

Other equities analysts have also recently issued reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cidara Therapeutics in a research report on Tuesday, June 10th. Citizens Jmp started coverage on Cidara Therapeutics in a research note on Wednesday, March 12th. They set an “outperform” rating and a $46.00 target price for the company. Citigroup assumed coverage on Cidara Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating for the company. Needham & Company LLC upped their target price on Cidara Therapeutics from $35.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $47.00 target price on shares of Cidara Therapeutics in a report on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $42.86.

Cidara Therapeutics Stock Down 3.6%

Shares of NASDAQ:CDTX opened at $21.31 on Wednesday. The firm has a market cap of $267.44 million, a P/E ratio of -0.72 and a beta of 0.79. Cidara Therapeutics has a 12 month low of $10.14 and a 12 month high of $28.42. The company’s 50-day moving average price is $22.06 and its two-hundred day moving average price is $21.95.

Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings results 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. As a group, equities analysts predict that Cidara Therapeutics will post -8.74 earnings per share for the current fiscal year.

Institutional Trading of Cidara Therapeutics

Hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Cidara Therapeutics during the fourth quarter valued at approximately $56,000. Point72 Asset Management L.P. bought a new position in Cidara Therapeutics during the fourth quarter valued at approximately $165,000. American Century Companies Inc. bought a new position in Cidara Therapeutics during the first quarter valued at approximately $224,000. OMERS ADMINISTRATION Corp bought a new position in Cidara Therapeutics during the fourth quarter valued at approximately $339,000. Finally, Jane Street Group LLC bought a new stake in shares of Cidara Therapeutics in the 4th quarter valued at approximately $342,000. 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.