Cidara Therapeutics (NASDAQ:CDTX) Earns Strong-Buy Rating from WBB Securities

WBB Securities reiterated their strong-buy rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a research note issued to investors on Thursday, Benzinga reports. They currently have a $40.00 target price on the biotechnology company’s stock.

Several other analysts have also recently commented on the company. HC Wainwright restated a buy rating and issued a $120.00 price target on shares of Cidara Therapeutics in a report on Monday, April 8th. Cantor Fitzgerald restated an overweight rating on shares of Cidara Therapeutics in a report on Tuesday, April 23rd. Finally, Needham & Company LLC lifted their price target on Cidara Therapeutics from $3.00 to $25.00 and gave the company a buy rating in a report on Thursday. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $71.25.

Cidara Therapeutics Trading Down 2.8 %

Shares of CDTX stock opened at $12.63 on Thursday. The firm has a 50-day moving average price of $15.32 and a 200 day moving average price of $15.22. Cidara Therapeutics has a twelve month low of $10.00 and a twelve month high of $29.60. The company has a market capitalization of $57.59 million, a price-to-earnings ratio of -2.63 and a beta of 0.98.

Institutional Trading of Cidara Therapeutics

A number of institutional investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Cidara Therapeutics by 25.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 15,912 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in shares of Cidara Therapeutics during the 3rd quarter worth about $28,000. Finally, Pale Fire Capital SE purchased a new stake in shares of Cidara Therapeutics during the 3rd quarter worth about $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.