Cidara Therapeutics’ (CDTX) Buy Rating Reaffirmed at HC Wainwright

Cidara Therapeutics (NASDAQ:CDTX)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $24.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 77.78% from the stock’s current price.

CDTX has been the topic of several other reports. StockNews.com raised Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, September 13th. Guggenheim began coverage on Cidara Therapeutics in a report on Friday. They issued a “buy” rating and a $33.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $30.50.

Cidara Therapeutics Price Performance

Cidara Therapeutics stock opened at $13.50 on Monday. Cidara Therapeutics has a 1-year low of $10.00 and a 1-year high of $24.40. The business has a fifty day moving average price of $11.56 and a 200-day moving average price of $12.06. The stock has a market capitalization of $95.01 million, a price-to-earnings ratio of -0.53 and a beta of 0.99.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($2.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.94) by $1.89. The business had revenue of $0.30 million for the quarter. Cidara Therapeutics had a negative return on equity of 109.89% and a negative net margin of 289.05%. On average, equities research analysts anticipate that Cidara Therapeutics will post -12.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cidara Therapeutics

A hedge fund recently raised its stake in Cidara Therapeutics stock. Tocqueville Asset Management L.P. increased its stake in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 163,000 shares of the biotechnology company’s stock after purchasing an additional 68,000 shares during the period. Tocqueville Asset Management L.P. owned 3.57% of Cidara Therapeutics worth $150,000 as of its most recent filing with the Securities & Exchange Commission. 35.82% of the stock is owned by institutional investors.

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.