Cidara Therapeutics, Inc. (NASDAQ:CDTX) Receives Consensus Rating of “Buy” from Analysts

Cidara Therapeutics, Inc. (NASDAQ:CDTX) has received an average rating of “Buy” from the six research firms that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $32.20.

Several analysts have issued reports on CDTX shares. StockNews.com lowered shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. WBB Securities raised their target price on shares of Cidara Therapeutics from $40.00 to $45.00 and gave the company a “strong-buy” rating in a research note on Thursday, December 5th. HC Wainwright reissued a “buy” rating and set a $24.00 price target on shares of Cidara Therapeutics in a research report on Monday, November 11th. Royal Bank of Canada initiated coverage on Cidara Therapeutics in a research report on Friday, December 13th. They issued an “outperform” rating and a $34.00 price objective for the company. Finally, Guggenheim began coverage on Cidara Therapeutics in a report on Friday, November 8th. They set a “buy” rating and a $33.00 target price on the stock.

Institutional Investors Weigh In On Cidara Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. 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 acquiring an additional 37,009 shares during the period. RA Capital Management L.P. acquired a new position in shares of Cidara Therapeutics during the 3rd quarter worth approximately $7,558,000. Finally, Geode Capital Management LLC increased its holdings in shares of Cidara Therapeutics by 22.7% during the third 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 period. Institutional investors and hedge funds own 35.82% of the company’s stock.

Cidara Therapeutics Stock Down 2.5 %

Shares of Cidara Therapeutics stock opened at $26.62 on Friday. The stock has a market cap of $187.59 million, a P/E ratio of -1.04 and a beta of 1.12. Cidara Therapeutics has a 12-month low of $10.00 and a 12-month high of $28.42. The business’s 50 day moving average is $19.14 and its 200-day moving average is $14.31.

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.