Cidara Therapeutics, Inc. (NASDAQ:CDTX) was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued on Friday, July 14th.
A number of other analysts also recently commented on the company. Zacks Investment Research downgraded Cidara Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Cantor Fitzgerald began coverage on Cidara Therapeutics in a research report on Monday, June 26th. They set an “overweight” rating and a $7.00 target price on the stock. Wedbush reiterated an “outperform” rating and set a $13.00 target price on shares of Cidara Therapeutics in a research report on Tuesday, May 16th. BTIG Research restated a “buy” rating and issued a $20.00 price objective (up from $15.00) on shares of Cidara Therapeutics in a research report on Saturday, April 29th. Finally, Raymond James Financial, Inc. assumed coverage on Cidara Therapeutics in a research report on Thursday, April 20th. They issued a “strong-buy” rating and a $14.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $13.14.
Shares of Cidara Therapeutics (NASDAQ CDTX) opened at 6.15 on Friday. The stock’s market capitalization is $103.69 million. Cidara Therapeutics has a 52-week low of $5.65 and a 52-week high of $12.95. The stock has a 50 day moving average of $7.28 and a 200 day moving average of $7.51.
Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings data on Wednesday, August 9th. The biotechnology company reported ($0.99) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.91) by $0.08. Analysts forecast that Cidara Therapeutics will post ($3.56) earnings per share for the current year.
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In other news, CEO Jeffrey Stein purchased 15,000 shares of the company’s stock in a transaction on Monday, June 5th. The stock was bought at an average cost of $5.95 per share, for a total transaction of $89,250.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Taylor Sandison purchased 20,000 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were purchased at an average price of $5.90 per share, with a total value of $118,000.00. The disclosure for this purchase can be found here. Corporate insiders own 18.90% of the company’s stock.
Several large investors have recently bought and sold shares of CDTX. Trellus Management Company LLC bought a new stake in Cidara Therapeutics during the second quarter worth about $338,000. Teachers Advisors LLC raised its stake in Cidara Therapeutics by 17.5% in the fourth quarter. Teachers Advisors LLC now owns 16,524 shares of the biotechnology company’s stock worth $172,000 after buying an additional 2,458 shares during the period. Renaissance Technologies LLC raised its stake in Cidara Therapeutics by 14.7% in the fourth quarter. Renaissance Technologies LLC now owns 49,900 shares of the biotechnology company’s stock worth $519,000 after buying an additional 6,400 shares during the period. Russell Investments Group Ltd. bought a new stake in Cidara Therapeutics during the fourth quarter worth about $173,000. Finally, FMR LLC raised its stake in Cidara Therapeutics by 5.4% in the fourth quarter. FMR LLC now owns 1,471,553 shares of the biotechnology company’s stock worth $15,304,000 after buying an additional 75,000 shares during the period. Institutional investors and hedge funds own 68.46% of the company’s stock.
About Cidara Therapeutics
Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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