Cidara Therapeutics (NASDAQ:CDTX) Upgraded at HC Wainwright

HC Wainwright upgraded shares of Cidara Therapeutics (NASDAQ:CDTX) from a neutral rating to a buy rating in a report published on Wednesday, Marketbeat reports. The brokerage currently has $24.00 price target on the biotechnology company’s stock. HC Wainwright also issued estimates for Cidara Therapeutics’ Q1 2025 earnings at ($4.66) EPS, Q2 2025 earnings at ($4.08) EPS, Q3 2025 earnings at ($3.26) EPS and Q4 2025 earnings at ($1.72) EPS.

Several other analysts also recently commented on CDTX. WBB Securities reaffirmed a strong-buy rating and set a $40.00 price objective on shares of Cidara Therapeutics in a research note on Thursday, April 25th. Cantor Fitzgerald reissued an overweight rating on shares of Cidara Therapeutics in a research note on Thursday, June 20th. Finally, Needham & Company LLC reissued a buy rating and issued a $25.00 price target on shares of Cidara Therapeutics in a research note on Thursday, May 16th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus target price of $29.67.

Cidara Therapeutics Trading Up 5.8 %

Shares of Cidara Therapeutics stock opened at $12.86 on Wednesday. The company has a market capitalization of $58.67 million, a PE ratio of -1.67 and a beta of 1.01. Cidara Therapeutics has a 12 month low of $10.00 and a 12 month high of $24.40. The stock’s fifty day simple moving average is $12.23 and its 200 day simple moving average is $13.46.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings data on Wednesday, May 15th. The biotechnology company reported ($2.28) EPS for the quarter, missing the consensus estimate of ($1.50) by ($0.78). The business had revenue of $8.46 million for the quarter, compared to analyst estimates of $14.50 million. Cidara Therapeutics had a negative return on equity of 201.62% and a negative net margin of 73.46%. Analysts predict that Cidara Therapeutics will post -13.07 EPS for the current fiscal year.

Insider Buying and Selling at Cidara Therapeutics

In related news, CEO Jeffrey Stein acquired 8,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was bought at an average price of $13.21 per share, for a total transaction of $105,680.00. Following the acquisition, the chief executive officer now directly owns 24,580 shares of the company’s stock, valued at $324,701.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 7.64% of the company’s stock.

Hedge Funds Weigh In On Cidara Therapeutics

A hedge fund recently raised its stake in Cidara Therapeutics stock. Tocqueville Asset Management L.P. grew its stake in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,000 shares of the biotechnology company’s stock after acquiring an additional 68,000 shares during the period. Tocqueville Asset Management L.P. owned 3.57% of Cidara Therapeutics worth $150,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.