Cidara Therapeutics (NASDAQ:CDTX – Get Free Report) had its price objective upped by analysts at Needham & Company LLC from $3.00 to $25.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 97.94% from the company’s current price.
CDTX has been the subject of several other research reports. HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective on shares of Cidara Therapeutics in a research report on Monday, April 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cidara Therapeutics in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $71.25.
View Our Latest Research Report on CDTX
Cidara Therapeutics Stock Performance
Institutional Investors Weigh In On Cidara Therapeutics
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Pale Fire Capital SE acquired a new stake in shares of Cidara Therapeutics in the 3rd quarter valued at $51,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of Cidara Therapeutics by 25.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock valued at $75,000 after buying an additional 15,912 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Cidara Therapeutics in the 3rd quarter valued at $28,000. 35.82% of the stock is owned by institutional investors and hedge funds.
Cidara Therapeutics Company Profile
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.
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