Cidara Therapeutics (NASDAQ:CDTX) Trading Up 8.4%

Shares of Cidara Therapeutics Inc (NASDAQ:CDTX) were up 8.4% on Wednesday . The stock traded as high as $3.64 and last traded at $3.61, approximately 462,716 shares traded hands during mid-day trading. An increase of 31% from the average daily volume of 353,282 shares. The stock had previously closed at $3.33.

Several research analysts recently weighed in on CDTX shares. ValuEngine lowered shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. WBB Securities raised shares of Cidara Therapeutics from a “speculative buy” rating to a “buy” rating and set a $6.25 price target on the stock in a research note on Wednesday, December 4th. Finally, Zacks Investment Research downgraded shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday. Three investment analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Cidara Therapeutics presently has an average rating of “Hold” and an average price target of $6.11.

The company has a market capitalization of $121.26 million, a price-to-earnings ratio of -1.50 and a beta of 2.32. The company has a fifty day simple moving average of $2.95 and a two-hundred day simple moving average of $2.12. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.45 and a current ratio of 2.45.

Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.34. The business had revenue of $19.10 million for the quarter, compared to analyst estimates of $30.00 million. As a group, analysts expect that Cidara Therapeutics Inc will post -1.52 EPS for the current year.

An institutional investor recently raised its position in Cidara Therapeutics stock. Renaissance Technologies LLC increased its holdings in shares of Cidara Therapeutics Inc (NASDAQ:CDTX) by 53.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 610,742 shares of the biotechnology company’s stock after buying an additional 214,010 shares during the quarter. Renaissance Technologies LLC owned about 2.29% of Cidara Therapeutics worth $1,026,000 as of its most recent filing with the Securities and Exchange Commission. 43.79% of the stock is owned by institutional investors.

Cidara Therapeutics Company Profile (NASDAQ:CDTX)

Cidara Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of anti-infectives for the treatment of diseases. Its lead product candidate is rezafungin acetate, a molecule in the echinocandin class of antifungals for the treatment and prevention of serious invasive fungal infections, including candidemia and invasive candidiasis, fungal infections associated with high mortality rates.

Read More: Price to Earnings Ratio (PE) Basics

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