Cidara Therapeutics, Inc. (NASDAQ:CDTX) Given Average Rating of “Buy” by Analysts

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have been given a consensus rating of “Buy” by the four brokerages that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $29.67.

A number of equities analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. Guggenheim began coverage on shares of Cidara Therapeutics in a research note on Friday. They issued a “buy” rating and a $33.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $24.00 target price on shares of Cidara Therapeutics in a research report on Tuesday, October 22nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cidara Therapeutics in a report on Wednesday, August 14th. Finally, StockNews.com raised Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, September 13th.

Hedge Funds Weigh In On Cidara Therapeutics

A hedge fund recently raised its stake in Cidara Therapeutics stock. Tocqueville Asset Management L.P. grew its holdings in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 35.82% of the company’s stock.

Cidara Therapeutics Trading Down 1.1 %

Shares of NASDAQ CDTX opened at $13.11 on Friday. The business’s 50 day moving average is $11.52 and its 200-day moving average is $12.03. The firm has a market cap of $92.29 million, a P/E ratio of -0.53 and a beta of 0.99. Cidara Therapeutics has a 1-year low of $10.00 and a 1-year high of $24.40.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($2.05) EPS for the quarter, topping analysts’ consensus estimates of ($3.94) by $1.89. Cidara Therapeutics had a negative return on equity of 109.89% and a negative net margin of 289.05%. The company had revenue of $0.30 million for the quarter. Analysts forecast that Cidara Therapeutics will post -12.06 EPS for the current year.

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.