Cidara Therapeutics (NASDAQ:CDTX) Rating Increased to Strong-Buy at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Cidara Therapeutics (NASDAQ:CDTX) to a strong-buy rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other brokerages also recently commented on CDTX. Royal Bank of Canada initiated coverage on Cidara Therapeutics in a report on Friday, December 13th. They issued an “outperform” rating and a $34.00 price target for the company. WBB Securities raised their price target on shares of Cidara Therapeutics from $40.00 to $45.00 and gave the stock a “strong-buy” rating in a research report on Thursday, December 5th. HC Wainwright reissued a “buy” rating and set a $24.00 price objective on shares of Cidara Therapeutics in a report on Monday, November 11th. Guggenheim began coverage on shares of Cidara Therapeutics in a research note on Friday, November 8th. They issued a “buy” rating and a $33.00 target price on the stock. Finally, StockNews.com lowered Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Cidara Therapeutics presently has an average rating of “Buy” and a consensus price target of $32.20.

Cidara Therapeutics Price Performance

Cidara Therapeutics stock opened at $20.22 on Wednesday. Cidara Therapeutics has a 12 month low of $10.00 and a 12 month high of $28.42. The company has a market cap of $142.55 million, a price-to-earnings ratio of -0.79 and a beta of 0.94. The stock’s 50-day moving average is $22.09 and its 200-day moving average is $15.85.

Hedge Funds Weigh In On Cidara Therapeutics

Institutional investors have recently modified their holdings of the company. Checkpoint Capital L.P. lifted its holdings in Cidara Therapeutics by 25.5% in the third quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company’s stock worth $1,961,000 after purchasing an additional 37,009 shares during the period. RA Capital Management L.P. bought a new stake in Cidara Therapeutics during the third quarter worth approximately $7,558,000. Finally, Geode Capital Management LLC lifted its position in Cidara Therapeutics by 22.7% in 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 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.