Cidara Therapeutics Inc (CDTX) Receives Average Recommendation of “Buy” from Brokerages

Cidara Therapeutics Inc (NASDAQ:CDTX) has been assigned a consensus recommendation of “Buy” from the seven research firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $13.25.

Several equities analysts recently commented on the stock. Cantor Fitzgerald set a $15.00 target price on shares of Cidara Therapeutics and gave the company a “buy” rating in a research note on Tuesday, September 4th. Zacks Investment Research lowered shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Needham & Company LLC set a $14.00 price target on shares of Cidara Therapeutics and gave the company a “buy” rating in a report on Thursday, August 9th. Citigroup initiated coverage on shares of Cidara Therapeutics in a report on Wednesday, July 25th. They issued a “buy” rating and a $8.00 price target on the stock. Finally, ValuEngine raised shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th.

NASDAQ:CDTX opened at $4.34 on Monday. The firm has a market cap of $121.78 million, a P/E ratio of -1.36 and a beta of 1.97. Cidara Therapeutics has a one year low of $3.65 and a one year high of $8.80. The company has a quick ratio of 7.11, a current ratio of 7.11 and a debt-to-equity ratio of 0.12.

Cidara Therapeutics (NASDAQ:CDTX) last released its earnings results on Wednesday, August 8th. The biotechnology company reported ($1.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.66) by ($0.47). As a group, analysts forecast that Cidara Therapeutics will post -2.53 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in CDTX. Northern Trust Corp increased its holdings in Cidara Therapeutics by 102.5% in the 1st quarter. Northern Trust Corp now owns 35,581 shares of the biotechnology company’s stock valued at $142,000 after buying an additional 18,014 shares during the period. JPMorgan Chase & Co. increased its holdings in Cidara Therapeutics by 87.0% in the 1st quarter. JPMorgan Chase & Co. now owns 69,172 shares of the biotechnology company’s stock valued at $277,000 after buying an additional 32,181 shares during the period. Acadian Asset Management LLC increased its holdings in Cidara Therapeutics by 113.6% in the 2nd quarter. Acadian Asset Management LLC now owns 86,515 shares of the biotechnology company’s stock valued at $450,000 after buying an additional 46,019 shares during the period. Alethea Capital Management LLC increased its holdings in Cidara Therapeutics by 40.1% in the 2nd quarter. Alethea Capital Management LLC now owns 109,094 shares of the biotechnology company’s stock valued at $567,000 after buying an additional 31,198 shares during the period. Finally, West Family Investments Inc. increased its holdings in Cidara Therapeutics by 53.9% in the 2nd quarter. West Family Investments Inc. now owns 153,874 shares of the biotechnology company’s stock valued at $800,000 after buying an additional 53,874 shares during the period. 67.14% of the stock is currently owned by hedge funds and other institutional investors.

About Cidara Therapeutics

Cidara Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of anti-infectives for the treatment of diseases. Its lead product candidate is rezafungin acetate, a molecule in the echinocandin class of antifungals for the treatment and prevention of serious invasive fungal infections, including candidemia and invasive candidiasis, fungal infections associated with high mortality rates.

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Analyst Recommendations for Cidara Therapeutics (NASDAQ:CDTX)

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