Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have earned a consensus rating of “Buy” from the twelve research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $14.36.
CDTX has been the topic of several recent analyst reports. WBB Securities upgraded shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Investment Research cut shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Cantor Fitzgerald set a $11.00 price objective on shares of Cidara Therapeutics and gave the company a “buy” rating in a research report on Monday, June 5th. ValuEngine upgraded shares of Cidara Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, July 14th. Finally, Raymond James Financial, Inc. assumed coverage on shares of Cidara Therapeutics in a research report on Thursday, April 20th. They issued a “strong-buy” rating and a $14.00 price target on the stock.
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Shares of Cidara Therapeutics (NASDAQ CDTX) traded up 1.210% during trading on Friday, reaching $6.275. 13,648 shares of the company were exchanged. The stock’s 50-day moving average is $7.30 and its 200-day moving average is $7.54. Cidara Therapeutics has a 52-week low of $5.65 and a 52-week high of $12.95. The firm’s market cap is $105.46 million.
Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.91) by $0.08. Equities research analysts predict that Cidara Therapeutics will post ($3.56) earnings per share for the current fiscal year.
In related news, CEO Jeffrey Stein bought 15,000 shares of the stock in a transaction dated Monday, June 5th. The stock was purchased at an average cost of $5.95 per share, with a total value of $89,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Taylor Sandison bought 20,000 shares of the stock in a transaction dated Wednesday, June 7th. The shares were bought at an average cost of $5.90 per share, with a total value of $118,000.00. The disclosure for this purchase can be found here. Insiders own 18.90% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. 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 raised its stake 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 in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Cidara Therapeutics during the second quarter worth about $110,000. 68.46% of the stock is 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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