Cidara Therapeutics (NASDAQ:CDTX) Price Target Raised to $135.00

Cidara Therapeutics (NASDAQ:CDTX) had its target price hoisted by Needham & Company LLC from $100.00 to $135.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

A number of other analysts have also weighed in on the company. WBB Securities increased their target price on Cidara Therapeutics from $123.00 to $199.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cidara Therapeutics in a report on Wednesday, October 8th. JMP Securities set a $173.00 price objective on shares of Cidara Therapeutics and gave the company a “market outperform” rating in a research report on Friday, October 3rd. Morgan Stanley initiated coverage on shares of Cidara Therapeutics in a research note on Thursday, October 16th. They issued an “overweight” rating and a $190.00 target price on the stock. Finally, Royal Bank Of Canada set a $137.00 price target on shares of Cidara Therapeutics and gave the company an “outperform” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cidara Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $156.11.

Cidara Therapeutics Price Performance

Shares of NASDAQ CDTX opened at $104.39 on Friday. Cidara Therapeutics has a 1-year low of $12.89 and a 1-year high of $121.21. The business’s 50 day moving average is $89.16 and its two-hundred day moving average is $58.52. The stock has a market capitalization of $2.65 billion, a P/E ratio of -8.86 and a beta of 1.32.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.24). As a group, equities research analysts anticipate that Cidara Therapeutics will post -8.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Nicole Negar Davarpanah sold 474 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $62.86, for a total value of $29,795.64. Following the completion of the transaction, the insider directly owned 31,418 shares of the company’s stock, valued at $1,974,935.48. This trade represents a 1.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 7.64% of the company’s stock.

Institutional Investors Weigh In On Cidara Therapeutics

A number of large investors have recently bought and sold shares of the company. American Century Companies Inc. acquired a new stake in shares of Cidara Therapeutics in the first quarter worth $224,000. Goldman Sachs Group Inc. boosted its holdings in Cidara Therapeutics by 203.8% in the first quarter. Goldman Sachs Group Inc. now owns 42,143 shares of the biotechnology company’s stock valued at $908,000 after purchasing an additional 28,273 shares during the last quarter. Jennison Associates LLC acquired a new stake in Cidara Therapeutics during the 2nd quarter worth about $2,397,000. AlphaQuest LLC purchased a new position in shares of Cidara Therapeutics during the 2nd quarter valued at about $239,000. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of Cidara Therapeutics by 167.6% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 990,000 shares of the biotechnology company’s stock valued at $21,325,000 after buying an additional 620,046 shares during the period. Hedge funds and other institutional investors own 35.82% of the company’s stock.

About Cidara Therapeutics

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.