Cidara Therapeutics (NASDAQ:CDTX) Rating Reiterated by HC Wainwright

Cidara Therapeutics (NASDAQ:CDTX)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report issued on Monday, Benzinga reports. They presently have a $24.00 target price on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 101.01% from the stock’s current price.

Several other research analysts have also commented on CDTX. StockNews.com raised Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price on shares of Cidara Therapeutics in a report on Wednesday, August 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. 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. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $29.67.

Cidara Therapeutics Price Performance

NASDAQ CDTX opened at $11.94 on Monday. Cidara Therapeutics has a 1-year low of $10.00 and a 1-year high of $24.40. The firm has a market capitalization of $84.06 million, a P/E ratio of -1.55 and a beta of 1.04. The business’s 50-day simple moving average is $12.17 and its 200-day simple moving average is $13.22.

Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($2.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.94) by $1.89. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 109.89%. The firm had revenue of $0.30 million for the quarter. On average, equities research analysts expect that Cidara Therapeutics will post -12.06 EPS for the current fiscal year.

Institutional Trading of Cidara Therapeutics

An institutional investor recently raised its position in Cidara Therapeutics stock. Tocqueville Asset Management L.P. boosted its holdings in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% in the first quarter, according to its most recent Form 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 period. Tocqueville Asset Management L.P. owned about 3.57% of Cidara Therapeutics worth $150,000 at the end of the most recent reporting period. 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.