Cidara Therapeutics (NASDAQ:CDTX) Price Target Raised to $45.00

Cidara Therapeutics (NASDAQ:CDTX) had its price objective boosted by WBB Securities from $40.00 to $45.00 in a report released on Thursday,Benzinga reports. The firm presently has a “strong-buy” rating on the biotechnology company’s stock. WBB Securities’ target price would indicate a potential upside of 141.42% from the stock’s previous close.

Other analysts have also issued research reports about the company. Cantor Fitzgerald restated an “overweight” rating on shares of Cidara Therapeutics in a report on Wednesday, August 14th. StockNews.com cut Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. HC Wainwright reissued a “buy” rating and issued a $24.00 price target on shares of Cidara Therapeutics in a research report on Monday, November 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. Finally, Guggenheim started coverage on shares of Cidara Therapeutics in a research report on Friday, November 8th. They issued a “buy” rating and a $33.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cidara Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $31.75.

Cidara Therapeutics Trading Down 6.6 %

Shares of CDTX traded down $1.31 during midday trading on Thursday, hitting $18.64. The stock had a trading volume of 940 shares, compared to its average volume of 41,599. Cidara Therapeutics has a fifty-two week low of $10.00 and a fifty-two week high of $24.40. The business has a 50-day simple moving average of $13.60 and a two-hundred day simple moving average of $12.64. The firm has a market cap of $131.41 million, a P/E ratio of -0.73 and a beta of 1.13.

Hedge Funds Weigh In On Cidara Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDTX. Geode Capital Management LLC increased its stake in shares of Cidara Therapeutics by 22.7% during the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock worth $569,000 after purchasing an additional 9,771 shares during the last quarter. RA Capital Management L.P. bought a new stake in Cidara Therapeutics in the third quarter worth $7,558,000. Finally, Checkpoint Capital L.P. increased its position in Cidara Therapeutics by 25.5% during the third quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company’s stock worth $1,961,000 after buying an additional 37,009 shares during the last quarter. Institutional investors own 35.82% of the company’s stock.

About Cidara Therapeutics

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.