Cidara Therapeutics, Inc. (NASDAQ:CDTX) Given Average Rating of “Hold” by Analysts

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have received a consensus rating of “Hold” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $156.1111.

Several analysts recently weighed in on the company. HC Wainwright cut Cidara Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, November 14th. Citigroup reiterated a “market outperform” rating on shares of Cidara Therapeutics in a research report on Tuesday, October 21st. Needham & Company LLC cut shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, November 14th. JPMorgan Chase & Co. downgraded shares of Cidara Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, November 17th. Finally, Royal Bank Of Canada downgraded shares of Cidara Therapeutics from an “outperform” rating to a “sector perform” rating in a report on Monday, November 17th.

Insider Buying and Selling at Cidara Therapeutics

In related news, insider Nicole Negar Davarpanah sold 474 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $62.86, for a total value of $29,795.64. Following the transaction, the insider owned 31,418 shares in the company, valued at approximately $1,974,935.48. This trade represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.64% of the company’s stock.

Hedge Funds Weigh In On Cidara Therapeutics

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

Cidara Therapeutics Stock Performance

NASDAQ CDTX opened at $220.25 on Tuesday. Cidara Therapeutics has a 52-week low of $15.22 and a 52-week high of $220.46. The stock has a market cap of $6.92 billion, a PE ratio of -18.70 and a beta of 1.32. The firm has a 50-day moving average of $114.17 and a 200-day moving average of $70.69.

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

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.