Cidara Therapeutics, Inc. (NASDAQ:CDTX) Receives $71.25 Consensus Price Target from Brokerages

Cidara Therapeutics, Inc. (NASDAQ:CDTX) has received a consensus recommendation of “Buy” from the four analysts that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $71.25.

Several equities analysts have recently weighed in on CDTX shares. Needham & Company LLC raised their target price on Cidara Therapeutics from $3.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday. HC Wainwright restated a “buy” rating and issued a $120.00 price objective on shares of Cidara Therapeutics in a report on Monday, April 8th. WBB Securities reaffirmed a “strong-buy” rating and set a $40.00 target price on shares of Cidara Therapeutics in a research note on Thursday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Cidara Therapeutics in a research report on Tuesday, April 23rd.

Institutional Trading of Cidara Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in Cidara Therapeutics by 25.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 15,912 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Cidara Therapeutics during the 3rd quarter valued at approximately $28,000. Finally, Pale Fire Capital SE purchased a new stake in shares of Cidara Therapeutics during the 3rd quarter valued at approximately $51,000. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

Cidara Therapeutics Trading Down 2.8 %

CDTX stock opened at $12.63 on Thursday. Cidara Therapeutics has a 12-month low of $10.00 and a 12-month high of $29.60. The business’s 50-day moving average is $15.32 and its 200 day moving average is $15.27. The stock has a market cap of $57.59 million, a price-to-earnings ratio of -2.63 and a beta of 0.98.

About Cidara Therapeutics

Cidara Therapeutics, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States. The company's lead product candidate is 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.