Cidara Therapeutics (NASDAQ:CDTX) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a research note issued to investors on Wednesday, Benzinga reports.

Other analysts have also issued research reports about the company. Needham & Company LLC reissued a buy rating and issued a $25.00 target price on shares of Cidara Therapeutics in a report on Wednesday. WBB Securities reaffirmed a strong-buy rating and set a $40.00 price objective on shares of Cidara Therapeutics in a research note on Thursday, April 25th. Finally, HC Wainwright raised Cidara Therapeutics from a neutral rating to a buy rating and set a $24.00 price objective on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $29.67.

Cidara Therapeutics Stock Performance

Cidara Therapeutics stock opened at $12.79 on Wednesday. The firm has a market capitalization of $58.35 million, a price-to-earnings ratio of -1.67 and a beta of 1.01. Cidara Therapeutics has a fifty-two week low of $10.00 and a fifty-two week high of $24.40. The stock’s fifty day moving average is $12.21 and its two-hundred day moving average is $13.45.

Cidara Therapeutics (NASDAQ:CDTX) last posted its earnings results on Wednesday, May 15th. The biotechnology company reported ($2.28) earnings per share for the quarter, missing the consensus estimate of ($1.50) by ($0.78). The firm had revenue of $8.46 million during the quarter, compared to analyst estimates of $14.50 million. Cidara Therapeutics had a negative net margin of 73.46% and a negative return on equity of 201.62%. As a group, sell-side analysts forecast that Cidara Therapeutics will post -13.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cidara Therapeutics news, CEO Jeffrey Stein purchased 8,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were purchased at an average cost of $13.21 per share, with a total value of $105,680.00. Following the purchase, the chief executive officer now owns 24,580 shares in the company, valued at $324,701.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.64% of the stock is owned by corporate insiders.

Institutional Trading of Cidara Therapeutics

An institutional investor recently raised its position in Cidara Therapeutics stock. Tocqueville Asset Management L.P. boosted its holdings in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 163,000 shares of the biotechnology company’s stock after buying an additional 68,000 shares during the period. Tocqueville Asset Management L.P. owned 3.57% of Cidara Therapeutics worth $150,000 at the end of the most recent reporting period. 35.82% of the stock is owned by institutional investors.

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.