Cantor Fitzgerald Reiterates “Overweight” Rating for Cidara Therapeutics (NASDAQ:CDTX)

Cidara Therapeutics (NASDAQ:CDTX)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a report released on Wednesday, Benzinga reports.

A number of other analysts have also recently issued reports on the company. WBB Securities reiterated a “strong-buy” rating and set a $40.00 target price on shares of Cidara Therapeutics in a report on Thursday, April 25th. HC Wainwright upgraded Cidara Therapeutics from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $25.00 price target on shares of Cidara Therapeutics in a report on Wednesday. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $29.67.

Cidara Therapeutics Trading Up 1.2 %

Shares of NASDAQ CDTX traded up $0.15 on Wednesday, reaching $12.30. 2,258 shares of the company traded hands, compared to its average volume of 45,744. Cidara Therapeutics has a fifty-two week low of $10.00 and a fifty-two week high of $24.40. The company has a 50 day moving average of $12.22 and a 200 day moving average of $13.47. The stock has a market capitalization of $56.11 million, a PE ratio of -1.60 and a beta of 1.01.

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

Insider Transactions at Cidara Therapeutics

In related news, CEO Jeffrey Stein acquired 8,000 shares of the stock in a transaction dated Friday, June 7th. The shares were acquired at an average price of $13.21 per share, with a total value of $105,680.00. Following the acquisition, the chief executive officer now owns 24,580 shares in the company, valued at approximately $324,701.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.64% of the company’s stock.

Hedge Funds Weigh In On Cidara Therapeutics

An institutional investor recently raised its position in Cidara Therapeutics stock. Tocqueville Asset Management L.P. raised its holdings in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 163,000 shares of the biotechnology company’s stock after purchasing an additional 68,000 shares during the quarter. Tocqueville Asset Management L.P. owned approximately 3.57% of Cidara Therapeutics worth $150,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 35.82% of the company’s stock.

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.