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

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

Other analysts also recently issued research reports about the company. HC Wainwright restated a “buy” rating and issued a $24.00 price target on shares of Cidara Therapeutics in a research note on Monday, November 11th. 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 on the stock. WBB Securities upped their price objective on Cidara Therapeutics from $40.00 to $45.00 and gave the company a “strong-buy” rating in a research report on Thursday, December 5th. Guggenheim initiated coverage on Cidara Therapeutics in a research report on Friday, November 8th. They issued a “buy” rating and a $33.00 price objective on the stock. Finally, StockNews.com cut Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.20.

Cidara Therapeutics Stock Down 10.5 %

Cidara Therapeutics stock opened at $19.51 on Monday. The company has a market capitalization of $137.55 million, a P/E ratio of -0.76 and a beta of 0.98. The stock’s 50 day moving average is $21.93 and its 200 day moving average is $15.50. Cidara Therapeutics has a twelve month low of $10.00 and a twelve month high of $28.42.

Hedge Funds Weigh In On Cidara Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Cidara Therapeutics by 22.7% during the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock valued at $569,000 after buying an additional 9,771 shares during the period. RA Capital Management L.P. bought a new position in Cidara Therapeutics in the 3rd quarter worth $7,558,000. Finally, Checkpoint Capital L.P. raised its holdings in Cidara Therapeutics by 25.5% in 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 during the period. 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.