Cidara Therapeutics, Inc. (NASDAQ:CDTX) Receives Average Recommendation of “Buy” from Brokerages

Cidara Therapeutics, Inc. (NASDAQ:CDTX) has been given a consensus recommendation of “Buy” by the six ratings firms that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $32.20.

A number of research firms have recently commented on CDTX. Royal Bank of Canada began coverage on Cidara Therapeutics in a research note on Friday, December 13th. They issued an “outperform” rating and a $34.00 target price for the company. StockNews.com cut Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. WBB Securities raised their price objective on Cidara Therapeutics from $40.00 to $45.00 and gave the company a “strong-buy” rating in a research report on Thursday, December 5th. Guggenheim assumed coverage on Cidara Therapeutics in a research report on Friday, November 8th. They set a “buy” rating and a $33.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $24.00 price objective on shares of Cidara Therapeutics in a research report on Monday, November 11th.

Cidara Therapeutics Stock Up 4.4 %

CDTX opened at $18.92 on Wednesday. The stock has a market cap of $133.39 million, a PE ratio of -0.74 and a beta of 0.98. The business has a 50 day moving average of $22.06 and a 200-day moving average of $15.60. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $28.42.

Institutional Trading of Cidara Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in shares of Cidara Therapeutics by 22.7% in the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock worth $569,000 after purchasing an additional 9,771 shares in the last quarter. Checkpoint Capital L.P. increased its holdings in shares of Cidara Therapeutics by 25.5% in the 3rd quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company’s stock worth $1,961,000 after purchasing an additional 37,009 shares in the last quarter. Finally, RA Capital Management L.P. bought a new stake in shares of Cidara Therapeutics in the 3rd quarter worth $7,558,000. Institutional investors own 35.82% of the company’s stock.

About Cidara Therapeutics

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.