Cidara Therapeutics, Inc. (NASDAQ:CDTX) Receives $32.20 Average PT from Analysts

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have received a consensus recommendation of “Buy” from the six ratings firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $32.20.

Several equities analysts recently commented on the stock. StockNews.com lowered shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. HC Wainwright reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Cidara Therapeutics in a research report on Monday, November 11th. Royal Bank of Canada started coverage on Cidara Therapeutics in a research note on Friday, December 13th. They issued an “outperform” rating and a $34.00 price target on the stock. WBB Securities increased their price objective 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. Finally, Guggenheim started coverage on Cidara Therapeutics in a research report on Friday, November 8th. They set a “buy” rating and a $33.00 price target on the stock.

Cidara Therapeutics Stock Performance

Shares of Cidara Therapeutics stock opened at $25.25 on Friday. The company’s fifty day moving average is $17.64 and its two-hundred day moving average is $13.86. The company has a market capitalization of $177.94 million, a P/E ratio of -0.99 and a beta of 1.13. Cidara Therapeutics has a 1 year low of $10.00 and a 1 year high of $25.32.

Institutional Trading of Cidara Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Checkpoint Capital L.P. raised 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 in the last quarter. RA Capital Management L.P. bought a new stake in Cidara Therapeutics during the 3rd quarter worth $7,558,000. Finally, Geode Capital Management LLC increased its stake in shares of 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 buying an additional 9,771 shares during the period. 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.