Zacks Investment Research upgraded shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) from a hold rating to a buy rating in a research report released on Tuesday, July 11th. Zacks Investment Research currently has $8.00 price objective on the biotechnology company’s stock.
According to Zacks, “Cidara Therapeutics, Inc. is a biotechnology company. The company is focused on the discovery, development and commercialization of novel anti-infectives. Its product pipeline includes CD101 IV, a long-acting echinocandin antifungal, CD101 topical and C001 which are in different clinical trial. The company developed its product using Cloudbreak(TM) immunotherapy platform. Cidara Therapeutics, Inc. is headquartered in San Diego, California. “
A number of other analysts have also recently weighed in on CDTX. Wedbush restated an outperform rating and issued a $13.00 price target on shares of Cidara Therapeutics in a research note on Thursday, March 16th. Cantor Fitzgerald started coverage on shares of Cidara Therapeutics in a research report on Monday, June 26th. They issued an overweight rating and a $7.00 price objective for the company. BTIG Research reiterated a buy rating and set a $20.00 price target (up from $15.00) on shares of Cidara Therapeutics in a research report on Saturday, April 29th. ValuEngine cut shares of Cidara Therapeutics from a sell rating to a strong sell rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC reissued a buy rating and set a $15.00 price objective on shares of Cidara Therapeutics in a research note on Friday, March 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $12.41.
Shares of Cidara Therapeutics (NASDAQ CDTX) traded up 1.25% during midday trading on Tuesday, hitting $8.10. The company had a trading volume of 65,416 shares. The company’s market capitalization is $136.13 million. Cidara Therapeutics has a 12 month low of $5.65 and a 12 month high of $12.95. The company has a 50-day moving average of $7.00 and a 200-day moving average of $7.81.
Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings results on Wednesday, May 10th. The biotechnology company reported ($0.80) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.10. Analysts predict that Cidara Therapeutics will post ($3.46) earnings per share for the current year.
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In other news, CEO Jeffrey Stein acquired 15,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was purchased at an average price of $5.95 per share, for a total transaction of $89,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Taylor Sandison purchased 20,000 shares of the business’s stock in a transaction on Wednesday, June 7th. The stock was bought at an average cost of $5.90 per share, for a total transaction of $118,000.00. The disclosure for this purchase can be found here. Company insiders own 18.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in CDTX. TIAA CREF Investment Management LLC raised its stake in shares of Cidara Therapeutics by 4.9% in the first quarter. TIAA CREF Investment Management LLC now owns 39,065 shares of the biotechnology company’s stock worth $305,000 after buying an additional 1,840 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Cidara Therapeutics by 17.5% in the fourth quarter. Teachers Advisors LLC now owns 16,524 shares of the biotechnology company’s stock worth $172,000 after buying an additional 2,458 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Cidara Therapeutics by 6.7% in the first quarter. Bank of New York Mellon Corp now owns 42,350 shares of the biotechnology company’s stock worth $330,000 after buying an additional 2,647 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Cidara Therapeutics by 14.7% in the fourth quarter. Renaissance Technologies LLC now owns 49,900 shares of the biotechnology company’s stock worth $519,000 after buying an additional 6,400 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of Cidara Therapeutics during the fourth quarter worth $173,000. 68.26% of the stock is currently owned by hedge funds and other institutional investors.
Cidara Therapeutics Company Profile
Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.
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