Cidara Therapeutics, Inc. (NASDAQ:CDTX) Receives $156.11 Average Price Target from Analysts

Cidara Therapeutics, Inc. (NASDAQ:CDTX) has been given an average recommendation of “Hold” by the twelve brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $156.1111.

Several research firms have recently issued reports on CDTX. Citigroup reissued a “market outperform” rating on shares of Cidara Therapeutics in a research report on Tuesday, October 21st. Royal Bank Of Canada lowered Cidara Therapeutics from an “outperform” rating to a “sector perform” rating in a report on Monday, November 17th. Needham & Company LLC cut Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, November 14th. Wall Street Zen upgraded Cidara Therapeutics to a “sell” rating in a report on Saturday, January 10th. Finally, JPMorgan Chase & Co. lowered Cidara Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, November 17th.

Cidara Therapeutics Stock Performance

Shares of NASDAQ:CDTX opened at $221.38 on Friday. The firm has a market capitalization of $6.96 billion, a PE ratio of -18.79 and a beta of 1.52. Cidara Therapeutics has a 52-week low of $15.22 and a 52-week high of $221.42. The firm has a fifty day moving average of $220.92 and a 200 day moving average of $140.69.

Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($1.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.24). On average, sell-side analysts forecast that Cidara Therapeutics will post -8.74 EPS for the current fiscal year.

Insider Activity at Cidara Therapeutics

In related news, COO Shane Ward sold 9,959 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $220.08, for a total value of $2,191,776.72. Following the completion of the transaction, the chief operating officer owned 25,033 shares of the company’s stock, valued at approximately $5,509,262.64. This represents a 28.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.89% of the stock is owned by company insiders.

Institutional Trading of Cidara Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CDTX. Global Retirement Partners LLC purchased a new position in Cidara Therapeutics during the fourth quarter worth approximately $45,000. KBC Group NV acquired a new stake in shares of Cidara Therapeutics in the 4th quarter worth $83,000. CWM LLC raised its holdings in shares of Cidara Therapeutics by 9,380.0% during the 4th quarter. CWM LLC now owns 474 shares of the biotechnology company’s stock worth $105,000 after acquiring an additional 469 shares during the period. Amalgamated Bank acquired a new position in shares of Cidara Therapeutics during the 2nd quarter valued at about $28,000. Finally, Trifecta Capital Advisors LLC purchased a new stake in shares of Cidara Therapeutics in the second quarter valued at about $49,000. 35.82% of the stock is owned by hedge funds and other institutional investors.

About Cidara Therapeutics

Cidara Therapeutics, Inc is a clinical‐stage biotechnology company focused on the discovery and development of long‐acting anti‐infectives and immunotherapies to address life‐threatening fungal, viral and bacterial infections. The company’s core technology platforms, including its proprietary CD‐MONT and Cloudbreak platforms, are designed to create novel therapeutic candidates with extended half‐lives and differentiated mechanisms of action. By leveraging its expertise in macromolecular conjugates and immunotherapeutic design, Cidara seeks to offer new treatment options that can reduce dosing frequency and improve patient outcomes in critical care settings.

The company’s lead asset, rezafungin, is a once‐weekly intravenous echinocandin antifungal in late‐stage development for the prevention and treatment of invasive candidiasis and other serious fungal infections.