Cidara Therapeutics (NASDAQ:CDTX) Stock Rating Reaffirmed by WBB Securities

WBB Securities restated their strong-buy rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a $40.00 price target on the biotechnology company’s stock.

Several other equities research analysts have also issued reports on CDTX. Needham & Company LLC increased their target price on shares of Cidara Therapeutics from $3.00 to $25.00 and gave the stock a buy rating in a report on Thursday. Cantor Fitzgerald reaffirmed an overweight rating on shares of Cidara Therapeutics in a report on Tuesday. Finally, HC Wainwright reaffirmed a buy rating and set a $120.00 price objective on shares of Cidara Therapeutics in a report on Monday, April 8th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Buy and a consensus price target of $71.25.

Cidara Therapeutics Price Performance

Cidara Therapeutics stock opened at $13.00 on Thursday. The firm has a 50 day moving average of $15.37 and a 200 day moving average of $15.33. Cidara Therapeutics has a 12-month low of $10.00 and a 12-month high of $29.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its position 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 last quarter. Flagship Harbor Advisors LLC bought a new stake in Cidara Therapeutics in the third quarter worth $28,000. Finally, Pale Fire Capital SE bought a new stake in Cidara Therapeutics in the third quarter worth $51,000. 35.82% of the stock is currently owned by institutional investors.

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.