HC Wainwright Issues Positive Forecast for Cidara Therapeutics (NASDAQ:CDTX) Stock Price

Cidara Therapeutics (NASDAQ:CDTX) had its price objective increased by HC Wainwright from $24.00 to $35.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

A number of other equities research analysts also recently weighed in on CDTX. StockNews.com downgraded Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, November 11th. WBB Securities lifted their price objective on shares of Cidara Therapeutics from $40.00 to $45.00 and gave the stock a “strong-buy” rating in a report on Thursday, December 5th. Needham & Company LLC reissued a “buy” rating and set a $35.00 target price on shares of Cidara Therapeutics in a report on Friday. Royal Bank of Canada started coverage on shares of Cidara Therapeutics in a research report on Friday, December 13th. They issued an “outperform” rating and a $34.00 price target on the stock. Finally, Cantor Fitzgerald raised shares of Cidara Therapeutics to a “strong-buy” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $36.40.

Cidara Therapeutics Price Performance

NASDAQ CDTX opened at $22.39 on Monday. The company’s fifty day moving average price is $22.52 and its two-hundred day moving average price is $17.51. The company has a market capitalization of $157.78 million, a price-to-earnings ratio of -0.88 and a beta of 0.88. Cidara Therapeutics has a 12 month low of $10.00 and a 12 month high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) EPS for the quarter, missing the consensus estimate of ($5.28) by ($0.10). Cidara Therapeutics had a negative return on equity of 69.64% and a negative net margin of 289.05%. As a group, analysts anticipate that Cidara Therapeutics will post -8.74 EPS for the current year.

Institutional Trading of Cidara Therapeutics

A number of large investors have recently modified their holdings of the company. BVF Inc. IL boosted its stake in Cidara Therapeutics by 55.4% during the 4th quarter. BVF Inc. IL now owns 1,092,796 shares of the biotechnology company’s stock valued at $29,374,000 after purchasing an additional 389,731 shares during the period. RA Capital Management L.P. raised its holdings in shares of Cidara Therapeutics by 55.4% during the fourth quarter. RA Capital Management L.P. now owns 1,092,796 shares of the biotechnology company’s stock valued at $29,374,000 after buying an additional 389,716 shares during the last quarter. TCG Crossover Management LLC acquired a new position in shares of Cidara Therapeutics during the fourth quarter worth approximately $26,092,000. VR Adviser LLC bought a new position in Cidara Therapeutics in the 4th quarter worth approximately $20,583,000. Finally, Vivo Capital LLC acquired a new stake in Cidara Therapeutics in the 4th quarter valued at approximately $18,026,000. Institutional investors and hedge funds 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.