Zacks Investment Research cut shares of Cidara Therapeutics (NASDAQ:CDTX) from a buy rating to a hold rating in a report published on Friday morning.
According to Zacks, “Cidara Therapeutics, Inc. is a biotechnology company. The company is focused on the discovery, development and commercialization of novel anti-infectives. Its product pipeline includes CD101 IV, a long-acting echinocandin antifungal, CD101 topical and C001 which are in different clinical trial. The company developed its product using Cloudbreak(TM) immunotherapy platform. Cidara Therapeutics, Inc. is headquartered in San Diego, California. “
Several other equities research analysts have also recently commented on CDTX. Cantor Fitzgerald reaffirmed a buy rating and issued a $15.00 price objective on shares of Cidara Therapeutics in a research report on Tuesday, September 26th. HC Wainwright boosted their price objective on shares of Cidara Therapeutics from $14.00 to $16.00 and gave the company a buy rating in a research report on Thursday, November 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Cidara Therapeutics presently has an average rating of Buy and an average price target of $12.93.
Cidara Therapeutics (NASDAQ:CDTX) traded down $0.05 on Friday, reaching $7.55. 71,372 shares of the company traded hands, compared to its average volume of 77,942. The company has a market cap of $153.81, a PE ratio of -2.22 and a beta of 1.79. Cidara Therapeutics has a 1-year low of $5.60 and a 1-year high of $11.75. The company has a quick ratio of 7.69, a current ratio of 7.69 and a debt-to-equity ratio of 0.16.
Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.21. equities research analysts predict that Cidara Therapeutics will post -3.31 EPS for the current fiscal year.
In related news, major shareholder Target N. V. Biotech acquired 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were acquired at an average cost of $7.57 per share, with a total value of $454,200.00. Following the transaction, the insider now owns 2,295,272 shares of the company’s stock, valued at approximately $17,375,209.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 18.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of CDTX. Citadel Advisors LLC acquired a new stake in Cidara Therapeutics in the 2nd quarter valued at $129,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Cidara Therapeutics in the 2nd quarter valued at $131,000. OxFORD Asset Management LLP increased its stake in Cidara Therapeutics by 69.1% in the 3rd quarter. OxFORD Asset Management LLP now owns 22,181 shares of the biotechnology company’s stock valued at $187,000 after buying an additional 9,065 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Cidara Therapeutics by 77.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 41,266 shares of the biotechnology company’s stock valued at $328,000 after buying an additional 18,001 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in Cidara Therapeutics in the 2nd quarter valued at $350,000. Hedge funds and other institutional investors own 55.45% of the company’s stock.
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Cidara Therapeutics Company Profile
Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.
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