Cidara Therapeutics, Inc. (NASDAQ:CDTX) Receives $39.14 Average Target Price from Analysts

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have earned a consensus recommendation of “Buy” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $39.14.

Several equities research analysts recently commented on the company. Cantor Fitzgerald upgraded Cidara Therapeutics to a “strong-buy” rating in a research report on Wednesday, February 5th. WBB Securities upped their target price on Cidara Therapeutics from $40.00 to $45.00 and gave the company a “strong-buy” rating in a research report on Thursday, December 5th. Needham & Company LLC restated a “buy” rating and set a $35.00 target price on shares of Cidara Therapeutics in a research report on Friday, March 7th. HC Wainwright upped their target price on Cidara Therapeutics from $24.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Finally, Citigroup started coverage on Cidara Therapeutics in a research note on Wednesday. They issued an “outperform” rating for the company.

Insider Activity

In related news, insider Leslie Tari sold 1,773 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 16,215 shares in the company, valued at approximately $356,081.40. This trade represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Shane Ward sold 1,664 shares of Cidara Therapeutics stock in a transaction dated Tuesday, March 11th. The stock was 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 in the company, valued at approximately $322,241.04. This represents a 10.18 % decrease in their position. The disclosure for this sale can be found here. 7.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cidara Therapeutics

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake 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 purchasing an additional 9,771 shares during the last quarter. RA Capital Management L.P. purchased a new position in Cidara Therapeutics in the third quarter valued at approximately $7,558,000. Checkpoint Capital L.P. lifted its stake 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 purchasing an additional 37,009 shares during the last quarter. Stempoint Capital LP purchased a new position in Cidara Therapeutics in the fourth quarter valued at approximately $1,281,000. Finally, Schonfeld Strategic Advisors LLC lifted its stake in Cidara Therapeutics by 154.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 49,557 shares of the biotechnology company’s stock valued at $1,332,000 after purchasing an additional 30,057 shares during the last quarter. Hedge funds and other institutional investors own 35.82% of the company’s stock.

Cidara Therapeutics Price Performance

Cidara Therapeutics stock opened at $22.05 on Thursday. The stock’s 50 day moving average is $22.08 and its 200 day moving average is $17.80. The firm has a market cap of $155.39 million, a P/E ratio of -0.86 and a beta of 0.88. Cidara Therapeutics has a one year low of $10.00 and a one year high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX) last posted 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 return on equity of 69.64% and a negative net margin of 289.05%. Equities analysts anticipate that Cidara Therapeutics will post -8.74 earnings per share for the current fiscal 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.