Cidara Therapeutics, Inc. (NASDAQ:CDTX) Given Average Rating of “Buy” by Analysts

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have received an average rating of “Buy” from the four brokerages that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $71.25.

Several equities analysts have recently issued reports on the company. 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 research note on Thursday, April 25th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cidara Therapeutics in a research note on Tuesday, April 23rd. HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Cidara Therapeutics in a research report on Monday, April 8th. Finally, WBB Securities restated a “strong-buy” rating and set a $40.00 price objective on shares of Cidara Therapeutics in a research report on Thursday, April 25th.

Institutional Investors Weigh In On Cidara Therapeutics

Institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. lifted 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 purchasing an additional 15,912 shares during the period. Flagship Harbor Advisors LLC acquired a new position in shares of Cidara Therapeutics in the 3rd quarter valued at about $28,000. Finally, Pale Fire Capital SE acquired a new position in shares of Cidara Therapeutics in the 3rd quarter valued at about $51,000. Institutional investors own 35.82% of the company’s stock.

Cidara Therapeutics Stock Performance

Shares of CDTX opened at $11.81 on Thursday. Cidara Therapeutics has a 52-week low of $10.00 and a 52-week high of $29.60. The business’s fifty day moving average is $15.24 and its 200-day moving average is $15.13. The firm has a market cap of $53.85 million, a price-to-earnings ratio of -2.46 and a beta of 0.98.

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.