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

Cidara Therapeutics, Inc. (NASDAQ:CDTX) has received an average rating of “Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $32.20.

CDTX has been the topic of several recent research reports. StockNews.com downgraded Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Royal Bank of Canada began coverage on shares of Cidara Therapeutics in a research note on Friday, December 13th. They issued an “outperform” rating and a $34.00 price target for the company. 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. Guggenheim assumed coverage on shares of Cidara Therapeutics in a research note on Friday, November 8th. They issued a “buy” rating and a $33.00 price target for the company. Finally, WBB Securities increased their price objective on Cidara Therapeutics from $40.00 to $45.00 and gave the company a “strong-buy” rating in a research note on Thursday, December 5th.

Hedge Funds Weigh In On Cidara Therapeutics

Several large investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. bought a new stake in Cidara Therapeutics during the third quarter valued at about $7,558,000. Checkpoint Capital L.P. raised 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 valued at $1,961,000 after purchasing an additional 37,009 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Cidara Therapeutics by 22.7% in 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. Hedge funds and other institutional investors own 35.82% of the company’s stock.

Cidara Therapeutics Stock Performance

NASDAQ CDTX opened at $26.88 on Friday. The company has a market capitalization of $189.42 million, a PE ratio of -1.05 and a beta of 1.12. The company has a 50-day simple moving average of $18.54 and a 200 day simple moving average of $14.13. Cidara Therapeutics has a 52-week low of $10.00 and a 52-week high of $27.44.

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.