Analysts Set Cidara Therapeutics, Inc. (NASDAQ:CDTX) PT at $29.67

Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) has been assigned an average recommendation of "Buy" from the five research firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $30.50.

Several research analysts have recently commented on the company. StockNews.com upgraded Cidara Therapeutics from a "sell" rating to a "hold" rating in a report on Friday, September 13th. Needham & Company LLC reiterated a "buy" rating and issued a $25.00 price objective on shares of Cidara Therapeutics in a report on Wednesday, August 14th. HC Wainwright reissued a "buy" rating and issued a $24.00 price target on shares of Cidara Therapeutics in a research report on Tuesday, October 22nd. Cantor Fitzgerald restated an "overweight" rating on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. Finally, Guggenheim assumed coverage on Cidara Therapeutics in a report on Friday. They set a "buy" rating and a $33.00 price target on the stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cidara Therapeutics stock. Tocqueville Asset Management L.P. boosted its holdings in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) by 71.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 about 3.57% of Cidara Therapeutics worth $150,000 at the end of the most recent quarter. 35.82% of the stock is currently owned by institutional investors.

Cidara Therapeutics Stock Up 5.1 %

Cidara Therapeutics stock traded up $0.67 during mid-day trading on Friday, reaching $13.78. 22,450 shares of the company's stock were exchanged, compared to its average volume of 38,673. Cidara Therapeutics has a one year low of $10.00 and a one year high of $24.40. The business's fifty day simple moving average is $11.52 and its 200 day simple moving average is $12.03. The firm has a market capitalization of $97.01 million, a PE ratio of -0.53 and a beta of 0.99.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last announced 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. The company had revenue of $0.30 million during the quarter. Cidara Therapeutics had a negative return on equity of 109.89% and a negative net margin of 289.05%. On average, sell-side analysts forecast that Cidara Therapeutics will post -12.06 earnings per share for the current year.

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.