Cidara Therapeutics (NASDAQ:CDTX) Receives “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a research report released on Tuesday, Benzinga reports. HC Wainwright currently has a $24.00 price target on the biotechnology company’s stock.

Several other research analysts have also weighed in on CDTX. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. StockNews.com raised Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, September 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cidara Therapeutics presently has an average rating of “Buy” and an average price target of $29.67.

Cidara Therapeutics Trading Up 1.4 %

Shares of CDTX opened at $11.38 on Tuesday. The company has a market capitalization of $51.92 million, a PE ratio of -1.48 and a beta of 1.03. Cidara Therapeutics has a 12 month low of $10.00 and a 12 month high of $24.40. The stock’s 50-day moving average price is $11.57 and its two-hundred day moving average price is $12.28.

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

Institutional Trading of Cidara Therapeutics

A hedge fund recently raised its stake in Cidara Therapeutics stock. Tocqueville Asset Management L.P. lifted its holdings in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 163,000 shares of the biotechnology company’s stock after buying an additional 68,000 shares during the period. Tocqueville Asset Management L.P. owned approximately 3.57% of Cidara Therapeutics worth $150,000 at the end of the most recent reporting period. 35.82% of the stock is owned by hedge funds and other institutional investors.

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.