WBB Securities Reiterates “Strong-Buy” Rating for Cidara Therapeutics (NASDAQ:CDTX)

Cidara Therapeutics (NASDAQ:CDTX)‘s stock had its “strong-buy” rating reissued by analysts at WBB Securities in a research note issued to investors on Thursday, Benzinga reports. They presently have a $40.00 price objective on the biotechnology company’s stock. WBB Securities’ target price points to a potential upside of 216.71% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cidara Therapeutics in a report on Tuesday. HC Wainwright reissued a “buy” rating and issued a $120.00 price objective on shares of Cidara Therapeutics in a report on Monday, April 8th. Finally, Needham & Company LLC increased their price objective on Cidara Therapeutics from $3.00 to $25.00 and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cidara Therapeutics currently has a consensus rating of “Buy” and an average target price of $71.25.

Cidara Therapeutics Stock Down 2.8 %

Shares of CDTX opened at $12.63 on Thursday. The stock has a 50 day moving average price of $15.35 and a 200 day moving average price of $15.31. The company has a market capitalization of $57.59 million, a price-to-earnings ratio of -2.63 and a beta of 0.98. Cidara Therapeutics has a 52-week low of $10.00 and a 52-week high of $29.60.

Institutional Investors Weigh In On Cidara Therapeutics

Several large investors have recently modified their holdings of CDTX. Flagship Harbor Advisors LLC acquired a new stake in shares of Cidara Therapeutics during the third quarter worth $28,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Cidara Therapeutics by 25.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 15,912 shares during the period. Finally, Pale Fire Capital SE acquired a new stake in shares of Cidara Therapeutics during the third quarter worth $51,000. 35.82% of the stock is owned by institutional investors and hedge funds.

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.