Cidara Therapeutics, Inc. (NASDAQ:CDTX) Receives $30.50 Average Price Target from Analysts

Cidara Therapeutics, Inc. (NASDAQ:CDTX) has received a consensus recommendation of “Buy” from the five analysts that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $31.75.

Several research analysts recently weighed in on the stock. Guggenheim assumed coverage on shares of Cidara Therapeutics in a research report on Friday, November 8th. They issued a “buy” rating and a $33.00 price objective on the stock. StockNews.com cut shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price target on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. Finally, HC Wainwright reiterated a “buy” rating and set a $24.00 price target on shares of Cidara Therapeutics in a research report on Monday, November 11th.

Cidara Therapeutics Trading Down 0.1 %

CDTX stock opened at $19.93 on Tuesday. The company’s 50 day moving average is $13.78 and its 200 day moving average is $12.69. The stock has a market cap of $140.51 million, a price-to-earnings ratio of -0.78 and a beta of 1.13. Cidara Therapeutics has a 1-year low of $10.00 and a 1-year high of $24.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. RA Capital Management L.P. bought a new stake in Cidara Therapeutics in the third quarter valued at $7,558,000. Checkpoint Capital L.P. boosted 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 valued at $1,961,000 after acquiring an additional 37,009 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 valued at $569,000 after acquiring an additional 9,771 shares in the last quarter. 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.