Needham & Company LLC set a $10.00 target price on Cidara Therapeutics (NASDAQ:CDTX) in a research report report published on Monday morning, TipRanks reports. The firm currently has a buy rating on the biotechnology company’s stock.
CDTX has been the subject of a number of other reports. ValuEngine upgraded Cidara Therapeutics from a sell rating to a hold rating in a report on Thursday, August 1st. Wedbush lowered Cidara Therapeutics from an outperform rating to a neutral rating and set a $2.00 price target for the company. in a report on Friday, May 17th. Oppenheimer assumed coverage on Cidara Therapeutics in a report on Wednesday, June 5th. They set an outperform rating and a $6.00 price target for the company. Zacks Investment Research upgraded Cidara Therapeutics from a hold rating to a buy rating and set a $1.50 price target for the company in a report on Tuesday. Finally, Cantor Fitzgerald cut their price target on Cidara Therapeutics from $15.00 to $8.00 and set a reduce rating for the company in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $5.50.
CDTX opened at $1.28 on Monday. The business has a 50 day moving average price of $1.54 and a 200 day moving average price of $2.12. Cidara Therapeutics has a twelve month low of $1.23 and a twelve month high of $4.95. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.19 and a current ratio of 3.19. The firm has a market cap of $35.33 million, a P/E ratio of -0.55 and a beta of 2.18.
Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.06. As a group, analysts anticipate that Cidara Therapeutics will post -2.11 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of CDTX. Renaissance Technologies LLC raised its stake in shares of Cidara Therapeutics by 53.9% during the second quarter. Renaissance Technologies LLC now owns 610,742 shares of the biotechnology company’s stock valued at $1,026,000 after purchasing an additional 214,010 shares in the last quarter. West Family Investments Inc. increased its stake in Cidara Therapeutics by 41.6% in the 2nd quarter. West Family Investments Inc. now owns 300,000 shares of the biotechnology company’s stock worth $504,000 after purchasing an additional 88,128 shares in the last quarter. Alethea Capital Management LLC increased its stake in Cidara Therapeutics by 17.0% in the 1st quarter. Alethea Capital Management LLC now owns 564,313 shares of the biotechnology company’s stock worth $1,495,000 after purchasing an additional 81,956 shares in the last quarter. Two Sigma Investments LP increased its stake in Cidara Therapeutics by 96.6% in the 4th quarter. Two Sigma Investments LP now owns 29,349 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 14,421 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Cidara Therapeutics by 1.9% in the 4th quarter. BlackRock Inc. now owns 291,512 shares of the biotechnology company’s stock worth $685,000 after purchasing an additional 5,563 shares in the last quarter. Institutional investors own 59.68% of the company’s stock.
About Cidara Therapeutics
Cidara Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of anti-infectives for the treatment of diseases. Its lead product candidate is rezafungin acetate, a molecule in the echinocandin class of antifungals for the treatment and prevention of serious invasive fungal infections, including candidemia and invasive candidiasis, fungal infections associated with high mortality rates.
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