Cidara Therapeutics (NASDAQ:CDTX – Free Report) had its price target increased by HC Wainwright from $74.00 to $110.00 in a research report released on Friday, MarketBeat.com reports. They currently have a buy rating on the biotechnology company’s stock.
Other analysts have also recently issued reports about the company. Citigroup reaffirmed an “outperform” rating on shares of Cidara Therapeutics in a report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cidara Therapeutics in a report on Tuesday, June 10th. Needham & Company LLC upped their price objective on Cidara Therapeutics from $74.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Guggenheim set a $167.00 price objective on Cidara Therapeutics and gave the stock a “buy” rating in a report on Wednesday. Finally, WBB Securities reaffirmed a “strong-buy” rating and set a $123.00 price objective on shares of Cidara Therapeutics in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $119.43.
Read Our Latest Research Report on Cidara Therapeutics
Cidara Therapeutics Trading Up 6.8%
Cidara Therapeutics (NASDAQ:CDTX – Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.65) EPS for the quarter, topping analysts’ consensus estimates of ($1.87) by $0.22. On average, analysts forecast that Cidara Therapeutics will post -8.74 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, insider Nicole Negar Davarpanah sold 474 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $62.86, for a total transaction of $29,795.64. Following the sale, the insider owned 31,418 shares in the company, valued at approximately $1,974,935.48. This represents a 1.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 7.64% of the company’s stock.
Institutional Trading of Cidara Therapeutics
A number of hedge funds and other institutional investors have recently bought and sold shares of CDTX. Amalgamated Bank purchased a new stake in Cidara Therapeutics in the second quarter worth $28,000. Trifecta Capital Advisors LLC purchased a new stake in Cidara Therapeutics in the second quarter worth $49,000. California State Teachers Retirement System purchased a new stake in Cidara Therapeutics in the second quarter worth $51,000. Legal & General Group Plc purchased a new stake in Cidara Therapeutics in the second quarter worth $73,000. Finally, Tower Research Capital LLC TRC increased its stake in Cidara Therapeutics by 66.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,556 shares of the biotechnology company’s stock worth $76,000 after purchasing an additional 623 shares during the period. Hedge funds and other institutional investors own 35.82% of the company’s stock.
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.
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