WBB Securities Issues Positive Forecast for Cidara Therapeutics (NASDAQ:CDTX) Stock Price

Cidara Therapeutics (NASDAQ:CDTX) had its price objective lifted by WBB Securities from $40.00 to $45.00 in a research note released on Thursday,Benzinga reports. The firm currently has a strong-buy rating on the biotechnology company’s stock.

Several other brokerages have also recently weighed in on CDTX. StockNews.com cut Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Cantor Fitzgerald reissued an “overweight” rating on shares of Cidara Therapeutics in a report on Wednesday, August 14th. Guggenheim started coverage on Cidara Therapeutics in a report on Friday, November 8th. They set a “buy” rating and a $33.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $25.00 price objective on shares of Cidara Therapeutics in a report on Wednesday, August 14th. Finally, HC Wainwright reissued a “buy” rating and set a $24.00 price objective on shares of Cidara Therapeutics in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.75.

Cidara Therapeutics Stock Down 0.1 %

Shares of NASDAQ CDTX opened at $19.93 on Thursday. The firm’s 50-day simple moving average is $13.78 and its 200 day simple moving average is $12.69. The company has a market cap of $140.51 million, a price-to-earnings ratio of -0.78 and a beta of 1.13. Cidara Therapeutics has a 12-month low of $10.00 and a 12-month high of $24.40.

Institutional Trading of Cidara Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. RA Capital Management L.P. bought a new stake in shares of Cidara Therapeutics in the 3rd quarter valued at about $7,558,000. Checkpoint Capital L.P. increased its stake in Cidara Therapeutics by 25.5% during the 3rd quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company’s stock worth $1,961,000 after purchasing an additional 37,009 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Cidara Therapeutics by 22.7% during the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock worth $569,000 after purchasing an additional 9,771 shares in the last quarter. 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.