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

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have been given an average rating of “Buy” by the six research firms that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $32.20.

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada assumed coverage on Cidara Therapeutics in a report on Friday, December 13th. They set an “outperform” rating and a $34.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $24.00 price objective on shares of Cidara Therapeutics in a report on Monday, November 11th. Guggenheim assumed coverage on Cidara Therapeutics in a report on Friday, November 8th. They set a “buy” rating and a $33.00 price objective for the company. StockNews.com cut Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Finally, Cantor Fitzgerald upgraded Cidara Therapeutics to a “strong-buy” rating in a report on Wednesday, February 5th.

Institutional Investors Weigh In On Cidara Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cidara Therapeutics in the fourth quarter valued at approximately $56,000. Point72 Asset Management L.P. acquired a new position in Cidara Therapeutics during the fourth quarter valued at approximately $165,000. OMERS ADMINISTRATION Corp acquired a new position in Cidara Therapeutics during the fourth quarter valued at approximately $339,000. Jane Street Group LLC acquired a new position in Cidara Therapeutics during the fourth quarter valued at approximately $342,000. Finally, Boothbay Fund Management LLC acquired a new position in Cidara Therapeutics during the fourth quarter valued at approximately $419,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

Cidara Therapeutics Stock Performance

Cidara Therapeutics stock opened at $21.47 on Friday. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $28.42. The stock has a market capitalization of $151.36 million, a P/E ratio of -0.84 and a beta of 0.94. The stock has a 50-day simple moving average of $22.52 and a 200 day simple moving average of $16.73.

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.