Cidara Therapeutics (NASDAQ:CDTX) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a report published on Tuesday morning, Benzinga reports.

Separately, HC Wainwright reiterated a buy rating and set a $120.00 price objective on shares of Cidara Therapeutics in a research note on Monday, April 8th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of Buy and an average target price of $71.25.

Cidara Therapeutics Stock Up 5.8 %

NASDAQ CDTX opened at $13.00 on Tuesday. The firm has a market cap of $1.19 billion, a PE ratio of -54.17 and a beta of 0.98. The company has a 50 day moving average price of $15.37 and a 200 day moving average price of $15.33. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $29.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Cidara Therapeutics by 25.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock worth $75,000 after buying an additional 15,912 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of Cidara Therapeutics in the third quarter worth $28,000. Finally, Pale Fire Capital SE purchased a new position in shares of Cidara Therapeutics in the third quarter worth $51,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

About Cidara Therapeutics

Cidara Therapeutics, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States. The company's lead product candidate is 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.