Cidara Therapeutics’ (CDTX) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a report released on Monday morning, Benzinga reports. HC Wainwright currently has a $24.00 target price on the biotechnology company’s stock.

Other analysts have also issued research reports about the company. StockNews.com upgraded Cidara Therapeutics from a sell rating to a hold rating in a report on Friday, September 13th. Needham & Company LLC restated a buy rating and set a $25.00 price target on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. Finally, Cantor Fitzgerald restated an overweight rating on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cidara Therapeutics has a consensus rating of Buy and an average price target of $29.67.

Cidara Therapeutics Trading Up 0.9 %

Shares of NASDAQ:CDTX opened at $11.72 on Monday. Cidara Therapeutics has a 12-month low of $10.00 and a 12-month high of $24.40. The company has a market cap of $53.47 million, a PE ratio of -1.53 and a beta of 1.04. The stock has a 50 day moving average of $12.18 and a 200 day moving average of $13.18.

Cidara Therapeutics (NASDAQ:CDTX) last issued its earnings results on Tuesday, August 13th. The biotechnology company reported ($2.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.94) by $1.89. Cidara Therapeutics had a negative return on equity of 109.89% and a negative net margin of 289.05%. The firm had revenue of $0.30 million for the quarter. Equities research analysts predict that Cidara Therapeutics will post -12.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cidara Therapeutics

A hedge fund recently raised its stake in Cidara Therapeutics stock. Tocqueville Asset Management L.P. raised its holdings in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 163,000 shares of the biotechnology company’s stock after acquiring an additional 68,000 shares during the period. Tocqueville Asset Management L.P. owned approximately 3.57% of Cidara Therapeutics worth $150,000 at the end of the most recent quarter. 35.82% of the stock is owned by institutional investors and hedge funds.

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.