Cidara Therapeutics, Inc. (NASDAQ:CDTX) Given Average Rating of “Hold” by Brokerages

Cidara Therapeutics, Inc. (NASDAQ:CDTX) has been given an average rating of “Hold” by the twelve analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $156.1111.

A number of equities analysts have recently issued reports on CDTX shares. Royal Bank Of Canada downgraded Cidara Therapeutics from an “outperform” rating to a “sector perform” rating in a research report on Monday, November 17th. Needham & Company LLC downgraded shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, November 14th. WBB Securities boosted their price target on shares of Cidara Therapeutics from $123.00 to $199.00 and gave the company a “strong-buy” rating in a report on Thursday, October 9th. HC Wainwright downgraded shares of Cidara Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th. Finally, Citigroup reissued a “market outperform” rating on shares of Cidara Therapeutics in a research note on Tuesday, October 21st.

Cidara Therapeutics Trading Up 0.0%

Shares of CDTX opened at $221.38 on Friday. The firm has a fifty day moving average price of $220.77 and a 200-day moving average price of $134.96. The firm has a market capitalization of $6.96 billion, a P/E ratio of -18.79 and a beta of 1.52. Cidara Therapeutics has a 12-month low of $15.22 and a 12-month high of $221.42.

Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($1.19) by ($0.24). Analysts predict that Cidara Therapeutics will post -8.74 earnings per share for the current year.

Insiders Place Their Bets

In other Cidara Therapeutics news, COO Shane Ward sold 9,959 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $220.08, for a total value of $2,191,776.72. Following the completion of the transaction, the chief operating officer directly owned 25,033 shares in the company, valued at approximately $5,509,262.64. The trade was a 28.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.89% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cidara Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank purchased a new position in Cidara Therapeutics in the second quarter worth $28,000. Trifecta Capital Advisors LLC acquired a new stake in shares of Cidara Therapeutics in the 2nd quarter worth $49,000. California State Teachers Retirement System purchased a new position in Cidara Therapeutics during the 2nd quarter worth $51,000. Legal & General Group Plc purchased a new position in Cidara Therapeutics during the 2nd quarter worth $73,000. Finally, Tower Research Capital LLC TRC increased its position in Cidara Therapeutics by 66.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,556 shares of the biotechnology company’s stock valued at $76,000 after buying an additional 623 shares in the last quarter. Hedge funds and other institutional investors own 35.82% of the company’s stock.

About Cidara Therapeutics

Cidara Therapeutics, Inc is a clinical‐stage biotechnology company focused on the discovery and development of long‐acting anti‐infectives and immunotherapies to address life‐threatening fungal, viral and bacterial infections. The company’s core technology platforms, including its proprietary CD‐MONT and Cloudbreak platforms, are designed to create novel therapeutic candidates with extended half‐lives and differentiated mechanisms of action. By leveraging its expertise in macromolecular conjugates and immunotherapeutic design, Cidara seeks to offer new treatment options that can reduce dosing frequency and improve patient outcomes in critical care settings.

The company’s lead asset, rezafungin, is a once‐weekly intravenous echinocandin antifungal in late‐stage development for the prevention and treatment of invasive candidiasis and other serious fungal infections.