Cidara Therapeutics (NASDAQ:CDTX) Now Covered by Guggenheim

Equities research analysts at Guggenheim initiated coverage on shares of Cidara Therapeutics (NASDAQ:CDTX) in a report issued on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $33.00 price target on the biotechnology company’s stock. Guggenheim’s price target suggests a potential upside of 151.72% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. StockNews.com upgraded Cidara Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 13th. HC Wainwright reiterated a “buy” rating and issued a $24.00 price objective on shares of Cidara Therapeutics in a research note on Tuesday, October 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price objective on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $30.50.

Cidara Therapeutics Stock Performance

Shares of Cidara Therapeutics stock opened at $13.11 on Friday. The firm has a market capitalization of $92.29 million, a price-to-earnings ratio of -0.53 and a beta of 0.99. Cidara Therapeutics has a fifty-two week low of $10.00 and a fifty-two week high of $24.40. The stock has a 50 day moving average of $11.52 and a 200 day moving average of $12.03.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings data on Tuesday, August 13th. The biotechnology company reported ($2.05) earnings per share for the quarter, topping the consensus estimate of ($3.94) by $1.89. Cidara Therapeutics had a negative return on equity of 109.89% and a negative net margin of 289.05%. The company had revenue of $0.30 million during the quarter. Analysts forecast that Cidara Therapeutics will post -12.06 EPS for the current year.

Hedge Funds Weigh In On Cidara Therapeutics

An institutional investor recently raised its position in Cidara Therapeutics stock. Tocqueville Asset Management L.P. grew its position in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 163,000 shares of the biotechnology company’s stock after purchasing an additional 68,000 shares during the quarter. Tocqueville Asset Management L.P. owned approximately 3.57% of Cidara Therapeutics worth $150,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 35.82% of the company’s stock.

Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes 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.