Cidara Therapeutics (NASDAQ:CDTX) Downgraded by StockNews.com to Sell

Cidara Therapeutics (NASDAQ:CDTX) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

CDTX has been the topic of several other reports. Needham & Company LLC restated a “buy” rating and set a $25.00 price target on shares of Cidara Therapeutics in a report on Wednesday, August 14th. Guggenheim initiated coverage on Cidara Therapeutics in a report on Friday. They set a “buy” rating and a $33.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $24.00 price target on shares of Cidara Therapeutics in a report on Monday. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Cidara Therapeutics in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Cidara Therapeutics Trading Down 1.1 %

Cidara Therapeutics stock traded down $0.15 during midday trading on Monday, reaching $13.35. The company’s stock had a trading volume of 10,768 shares, compared to its average volume of 38,550. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $24.40. The business has a 50-day moving average price of $11.58 and a 200-day moving average price of $12.06. The stock has a market cap of $93.98 million, a PE ratio of -0.52 and a beta of 0.99.

Cidara Therapeutics (NASDAQ:CDTX) last released its earnings results on Tuesday, August 13th. The biotechnology company reported ($2.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.94) by $1.89. The firm had revenue of $0.30 million for the quarter. Cidara Therapeutics had a negative return on equity of 109.77% and a negative net margin of 289.05%. As a group, research analysts predict that Cidara Therapeutics will post -12.06 EPS for the current fiscal year.

Institutional Trading of Cidara Therapeutics

An institutional investor recently raised its position in Cidara Therapeutics stock. Tocqueville Asset Management L.P. raised its holdings in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 163,000 shares of the biotechnology company’s stock after buying an additional 68,000 shares during the quarter. Tocqueville Asset Management L.P. owned 3.57% of Cidara Therapeutics worth $150,000 as of its most recent SEC filing. Institutional investors and hedge funds own 35.82% of the company’s stock.

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.