Cidara Therapeutics (NASDAQ:CDTX) Earns “Overweight” Rating from Cantor Fitzgerald

Cidara Therapeutics (NASDAQ:CDTX)‘s stock had its “overweight” rating restated by analysts at Cantor Fitzgerald in a research report issued on Tuesday,Benzinga reports.

Several other equities analysts have also issued reports on CDTX. Guggenheim upped their price target on Cidara Therapeutics from $35.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Citizens Jmp began coverage on Cidara Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $46.00 price target on the stock. HC Wainwright upped their price objective on Cidara Therapeutics from $24.00 to $35.00 and gave the company a “buy” rating in a report on Monday, March 10th. Citigroup started coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They set an “outperform” rating for the company. Finally, Wall Street Zen raised Cidara Therapeutics to a “sell” rating in a research note on Saturday, May 10th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Cidara Therapeutics Price Performance

Shares of CDTX traded up $0.40 on Tuesday, reaching $25.78. 35,469 shares of the stock traded hands, compared to its average volume of 142,507. Cidara Therapeutics has a 12 month low of $10.14 and a 12 month high of $28.42. The stock’s 50-day moving average price is $21.16 and its 200-day moving average price is $21.80. The firm has a market cap of $323.46 million, a price-to-earnings ratio of -1.01 and a beta of 0.79.

Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($1.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($5.45) by $3.79. Cidara Therapeutics had a negative return on equity of 69.64% and a negative net margin of 289.05%. As a group, equities research analysts forecast that Cidara Therapeutics will post -8.74 earnings per share for the current fiscal year.

Institutional Trading of Cidara Therapeutics

Several hedge funds have recently bought and sold shares of CDTX. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cidara Therapeutics during the fourth quarter worth $56,000. Northern Trust Corp boosted its position in shares of Cidara Therapeutics by 6.8% during the fourth quarter. Northern Trust Corp now owns 33,957 shares of the biotechnology company’s stock worth $913,000 after buying an additional 2,170 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Cidara Therapeutics during the fourth quarter worth about $165,000. OMERS ADMINISTRATION Corp grew its stake in shares of Cidara Therapeutics by 53.2% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 19,300 shares of the biotechnology company’s stock worth $416,000 after acquiring an additional 6,700 shares in the last quarter. Finally, American Century Companies Inc. acquired a new stake in Cidara Therapeutics in the 1st quarter valued at $224,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

Cidara Therapeutics Company Profile

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.