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

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

Separately, HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Cidara Therapeutics in a research report on Monday, April 8th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $4.67.

Cidara Therapeutics Stock Performance

Shares of NASDAQ:CDTX opened at $0.51 on Tuesday. Cidara Therapeutics has a fifty-two week low of $0.50 and a fifty-two week high of $1.48. The business has a 50-day simple moving average of $0.77 and a two-hundred day simple moving average of $0.77. The firm has a market cap of $46.57 million, a price-to-earnings ratio of -1.32 and a beta of 0.98.

Institutional Investors Weigh In On Cidara Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. grew its stake in shares of Cidara Therapeutics by 25.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock valued at $75,000 after acquiring an additional 15,912 shares during the period. Flagship Harbor Advisors LLC bought a new position in shares of Cidara Therapeutics during the 3rd quarter valued at approximately $28,000. Finally, Pale Fire Capital SE bought a new position in shares of Cidara Therapeutics during the 3rd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

About Cidara Therapeutics

Cidara Therapeutics, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States. The company's lead product candidate is 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.