Cidara Therapeutics (NASDAQ:CDTX) Price Target Raised to $35.00

Cidara Therapeutics (NASDAQ:CDTX) had its price target increased by HC Wainwright from $24.00 to $35.00 in a research report sent to investors on Monday,Benzinga reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock. HC Wainwright also issued estimates for Cidara Therapeutics’ Q1 2025 earnings at ($5.45) EPS, Q2 2025 earnings at ($1.08) EPS, Q3 2025 earnings at ($0.69) EPS, Q4 2025 earnings at ($1.34) EPS, FY2025 earnings at ($7.12) EPS, FY2026 earnings at ($14.64) EPS, FY2027 earnings at ($16.66) EPS, FY2028 earnings at ($4.73) EPS and FY2029 earnings at ($1.96) EPS.

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald upgraded Cidara Therapeutics to a “strong-buy” rating in a report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and set a $35.00 price target on shares of Cidara Therapeutics in a report on Friday, March 7th. Royal Bank of Canada started coverage on Cidara Therapeutics in a report on Friday, December 13th. They set an “outperform” rating and a $34.00 price target for the company. WBB Securities raised their price target on Cidara Therapeutics from $40.00 to $45.00 and gave the company a “strong-buy” rating in a report on Thursday, December 5th. Finally, StockNews.com cut Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $39.14.

Cidara Therapeutics Trading Up 9.5 %

Shares of CDTX opened at $23.00 on Monday. The business’s 50 day moving average is $22.35 and its 200 day moving average is $17.64. The company has a market capitalization of $162.08 million, a PE ratio of -0.90 and a beta of 0.88. Cidara Therapeutics has a 12-month low of $10.00 and a 12-month high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX) last issued its earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.28) by ($0.10). Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%. Equities research analysts predict that Cidara Therapeutics will post -8.74 earnings per share for the current year.

Hedge Funds Weigh In On Cidara Therapeutics

A number of large investors have recently bought and sold shares of the business. BVF Inc. IL boosted its holdings in Cidara Therapeutics by 55.4% during the 4th quarter. BVF Inc. IL now owns 1,092,796 shares of the biotechnology company’s stock valued at $29,374,000 after acquiring an additional 389,731 shares during the period. RA Capital Management L.P. boosted its holdings in Cidara Therapeutics by 55.4% during the 4th quarter. RA Capital Management L.P. now owns 1,092,796 shares of the biotechnology company’s stock valued at $29,374,000 after acquiring an additional 389,716 shares during the period. TCG Crossover Management LLC purchased a new position in Cidara Therapeutics during the 4th quarter valued at $26,092,000. VR Adviser LLC purchased a new position in Cidara Therapeutics during the 4th quarter valued at $20,583,000. Finally, Vivo Capital LLC purchased a new position in Cidara Therapeutics during the 4th quarter valued at $18,026,000. 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 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.