Cantor Fitzgerald Reiterates “Overweight” Rating for Cidara Therapeutics (NASDAQ:CDTX)

Cidara Therapeutics (NASDAQ:CDTX)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a research note issued on Monday,Benzinga reports.

A number of other equities research analysts have also issued reports on the company. Royal Bank of Canada initiated coverage on Cidara Therapeutics in a research note on Friday, December 13th. They issued an “outperform” rating and a $34.00 price target for the company. WBB Securities increased their price target on Cidara Therapeutics from $40.00 to $45.00 and gave the stock a “strong-buy” rating in a research note on Thursday, December 5th. Guggenheim initiated coverage on Cidara Therapeutics in a research note on Friday, November 8th. They issued a “buy” rating and a $33.00 price target for the company. StockNews.com lowered Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Finally, HC Wainwright reiterated a “buy” rating and issued a $24.00 price target on shares of Cidara Therapeutics in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cidara Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $32.20.

Cidara Therapeutics Stock Performance

Shares of Cidara Therapeutics stock opened at $19.51 on Monday. Cidara Therapeutics has a one year low of $10.00 and a one year high of $28.42. The stock’s fifty day moving average is $21.93 and its 200 day moving average is $15.50. The stock has a market cap of $137.55 million, a P/E ratio of -0.76 and a beta of 0.98.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CDTX. Checkpoint Capital L.P. grew its position in shares of Cidara Therapeutics by 25.5% during the third 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 in the last quarter. RA Capital Management L.P. purchased a new position in shares of Cidara Therapeutics during the third quarter valued at about $7,558,000. Finally, Geode Capital Management LLC grew its position in shares of Cidara Therapeutics by 22.7% during the third quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock valued at $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 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.