Cidara Therapeutics (NASDAQ:CDTX) Earns Buy Rating from Needham & Company LLC

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $35.00 price target on the biotechnology company's stock. Needham & Company LLC's price objective points to a potential upside of 66.67% from the company's previous close.

CDTX has been the subject of several other research reports. Royal Bank of Canada initiated coverage on shares of Cidara Therapeutics in a research report on Friday, December 13th. They set an "outperform" rating and a $34.00 price target for the company. StockNews.com lowered shares of Cidara Therapeutics from a "hold" rating to a "sell" rating in a report on Monday, November 11th. WBB Securities increased their price target on Cidara Therapeutics from $40.00 to $45.00 and gave the company a "strong-buy" rating in a research note on Thursday, December 5th. Guggenheim began coverage on Cidara Therapeutics in a research report on Friday, November 8th. They issued a "buy" rating and a $33.00 price target on the stock. Finally, HC Wainwright reiterated a "buy" rating and issued a $24.00 price objective on shares of Cidara Therapeutics in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Cidara Therapeutics has a consensus rating of "Buy" and a consensus price target of $36.40.

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Cidara Therapeutics Stock Down 6.2 %

CDTX stock traded down $1.39 during trading on Friday, hitting $21.00. The company had a trading volume of 126,939 shares, compared to its average volume of 60,086. The firm has a 50-day moving average price of $22.52 and a 200-day moving average price of $17.51. Cidara Therapeutics has a 12 month low of $10.00 and a 12 month high of $28.42. The stock has a market cap of $147.99 million, a price-to-earnings ratio of -0.82 and a beta of 0.88.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last issued its quarterly 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 analysts expect that Cidara Therapeutics will post -8.74 EPS for the current year.

Institutional Trading of Cidara Therapeutics

A number of large investors have recently bought and sold shares of CDTX. VR Adviser LLC acquired a new stake in shares of Cidara Therapeutics in the 4th quarter valued at about $20,583,000. Stempoint Capital LP acquired a new position in shares of Cidara Therapeutics during the fourth quarter worth about $1,281,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cidara Therapeutics during the fourth quarter worth about $56,000. Point72 Asset Management L.P. acquired a new stake in Cidara Therapeutics in the 4th quarter valued at approximately $165,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in Cidara Therapeutics in the 4th quarter valued at approximately $339,000. 35.82% of the stock is owned by institutional investors.

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.