Cidara Therapeutics, Inc. (NASDAQ:CDTX) was upgraded by research analysts at WBB Securities from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
Several other research analysts also recently issued reports on the stock. Cantor Fitzgerald set a $15.00 price target on shares of Cidara Therapeutics and gave the stock a “buy” rating in a research report on Thursday. ValuEngine upgraded shares of Cidara Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, July 14th. Wedbush reiterated an “outperform” rating and set a $13.00 price target on shares of Cidara Therapeutics in a research report on Tuesday, May 16th. Zacks Investment Research upgraded shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, April 13th. Finally, BTIG Research reiterated a “buy” rating and set a $20.00 price target (up previously from $15.00) on shares of Cidara Therapeutics in a research report on Saturday, April 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $13.14.
Cidara Therapeutics (NASDAQ CDTX) opened at 6.15 on Friday. The firm’s 50-day moving average is $7.28 and its 200 day moving average is $7.51. The firm’s market cap is $103.69 million. Cidara Therapeutics has a 1-year low of $5.65 and a 1-year high of $12.95.
Cidara Therapeutics (NASDAQ:CDTX) last issued its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.99) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.91) by $0.08. On average, equities analysts forecast that Cidara Therapeutics will post ($3.56) earnings per share for the current fiscal year.
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In other news, insider Taylor Sandison acquired 20,000 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was purchased at an average cost of $5.90 per share, with a total value of $118,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Stein acquired 15,000 shares of the company’s stock in a transaction on Monday, June 5th. The shares were purchased at an average cost of $5.95 per share, with a total value of $89,250.00. The disclosure for this purchase can be found here. Insiders own 18.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. LMR Partners LLP purchased a new stake in shares of Cidara Therapeutics during the second quarter valued at $331,000. Trexquant Investment LP purchased a new stake in shares of Cidara Therapeutics during the second quarter valued at $110,000. Trellus Management Company LLC purchased a new stake in shares of Cidara Therapeutics during the second quarter valued at $338,000. Perceptive Advisors LLC boosted its stake in shares of Cidara Therapeutics by 6.9% in the first quarter. Perceptive Advisors LLC now owns 826,369 shares of the biotechnology company’s stock valued at $6,445,000 after buying an additional 53,000 shares in the last quarter. Finally, Tekla Capital Management LLC boosted its stake in shares of Cidara Therapeutics by 116.3% in the first quarter. Tekla Capital Management LLC now owns 286,472 shares of the biotechnology company’s stock valued at $2,234,000 after buying an additional 154,000 shares in the last quarter. 68.46% of the stock is owned by hedge funds and other institutional investors.
Cidara Therapeutics Company Profile
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.
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