Brokerages Set Cidara Therapeutics, Inc. (NASDAQ:CDTX) Target Price at $32.20

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have received an average rating of “Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $32.20.

A number of analysts have weighed in on CDTX shares. Royal Bank of Canada assumed coverage on Cidara Therapeutics in a research report on Friday, December 13th. They issued an “outperform” rating and a $34.00 price target for the company. StockNews.com lowered Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, November 11th. WBB Securities lifted their price target on shares of 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 assumed coverage on shares of Cidara Therapeutics in a report on Friday, November 8th. They set a “buy” rating and a $33.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $24.00 target price on shares of Cidara Therapeutics in a report on Monday, November 11th.

Institutional Investors Weigh In On Cidara Therapeutics

A number of large investors have recently bought and sold shares of the company. RA Capital Management L.P. acquired a new stake in Cidara Therapeutics during the 3rd quarter worth approximately $7,558,000. Checkpoint Capital L.P. increased its stake in Cidara Therapeutics by 25.5% in the third quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company’s stock valued at $1,961,000 after purchasing an additional 37,009 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Cidara Therapeutics by 22.7% during the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock worth $569,000 after buying an additional 9,771 shares during the period. 35.82% of the stock is currently owned by institutional investors and hedge funds.

Cidara Therapeutics Price Performance

Shares of NASDAQ CDTX opened at $26.88 on Friday. Cidara Therapeutics has a one year low of $10.00 and a one year high of $27.44. The business’s 50-day moving average price is $18.54 and its two-hundred day moving average price is $14.13. The company has a market capitalization of $189.42 million, a P/E ratio of -1.05 and a beta of 1.12.

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.