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

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

A number of other equities analysts have also recently issued reports on the stock. Cantor Fitzgerald reiterated an overweight rating on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. Needham & Company LLC reiterated a buy rating and issued a $25.00 target price on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. Finally, StockNews.com raised shares of Cidara Therapeutics from a sell rating to a hold rating in a research report on Friday, September 13th. One equities 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 stock. Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus target price of $29.67.

Cidara Therapeutics Trading Up 0.9 %

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

Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings data on Tuesday, August 13th. The biotechnology company reported ($2.05) EPS for the quarter, topping the consensus estimate of ($3.94) by $1.89. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 109.89%. The business had revenue of $0.30 million for the quarter. On average, sell-side analysts forecast 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. boosted its position in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 163,000 shares of the biotechnology company’s stock after acquiring an additional 68,000 shares during the quarter. Tocqueville Asset Management L.P. owned 3.57% of Cidara Therapeutics worth $150,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 35.82% of the company’s stock.

Cidara Therapeutics Company Profile

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.