Citizens Jmp Begins Coverage on Cidara Therapeutics (NASDAQ:CDTX)

Citizens Jmp started coverage on shares of Cidara Therapeutics (NASDAQ:CDTX) in a note issued to investors on Wednesday, Marketbeat reports. The firm set an “outperform” rating and a $46.00 price target on the biotechnology company’s stock. Citizens Jmp’s price target suggests a potential upside of 105.72% from the stock’s current price.

A number of other research analysts also recently commented on CDTX. Royal Bank of Canada assumed coverage on shares of Cidara Therapeutics in a research report on Friday, December 13th. They set an “outperform” rating and a $34.00 price objective on the stock. HC Wainwright lifted their target price on shares of Cidara Therapeutics from $24.00 to $35.00 and gave the company a “buy” rating in a research note on Monday. WBB Securities lifted their target price on shares of Cidara Therapeutics from $40.00 to $45.00 and gave the company a “strong-buy” rating in a research note on Thursday, December 5th. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 target price on shares of Cidara Therapeutics in a research note on Friday, March 7th. Finally, Cantor Fitzgerald upgraded shares of Cidara Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $39.14.

Cidara Therapeutics Stock Performance

Shares of CDTX opened at $22.36 on Wednesday. The company’s 50 day moving average price is $22.27 and its 200 day moving average price is $17.67. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $28.42. The company has a market capitalization of $157.57 million, a PE ratio of -0.88 and a beta of 0.88.

Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings data on Thursday, March 6th. The biotechnology company reported ($5.38) EPS for the quarter, missing analysts’ consensus estimates of ($5.28) by ($0.10). Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%. On average, equities analysts forecast that Cidara Therapeutics will post -8.74 earnings per share for the current fiscal year.

Insider Transactions at Cidara Therapeutics

In related news, insider Leslie Tari sold 1,773 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total transaction of $38,935.08. Following the completion of the transaction, the insider now directly owns 16,215 shares in the company, valued at $356,081.40. This represents a 9.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Shane Ward sold 1,664 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total transaction of $36,541.44. Following the completion of the sale, the chief operating officer now directly owns 14,674 shares of the company’s stock, valued at approximately $322,241.04. This trade represents a 10.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.64% of the stock is owned by corporate insiders.

Institutional Trading of Cidara Therapeutics

Hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in Cidara Therapeutics in the 4th quarter valued at $56,000. Point72 Asset Management L.P. bought a new stake in Cidara Therapeutics in the 4th quarter valued at $165,000. OMERS ADMINISTRATION Corp bought a new stake in Cidara Therapeutics in the 4th quarter valued at $339,000. Jane Street Group LLC bought a new stake in Cidara Therapeutics in the 4th quarter valued at $342,000. Finally, Boothbay Fund Management LLC bought a new stake in Cidara Therapeutics in the 4th quarter valued at $419,000. 35.82% of the stock is owned by institutional investors.

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.