Cidara Therapeutics, Inc. (NASDAQ:CDTX) Receives Consensus Recommendation of "Buy" from Analysts

Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) has been given a consensus recommendation of "Buy" by the eight research firms that are covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $39.14.

Several brokerages have recently weighed in on CDTX. Needham & Company LLC reaffirmed a "buy" rating and set a $35.00 price target on shares of Cidara Therapeutics in a research note on Thursday. Cantor Fitzgerald raised shares of Cidara Therapeutics to a "strong-buy" rating in a research report on Wednesday, February 5th. Citigroup started coverage on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating on the stock. Royal Bank of Canada assumed coverage on Cidara Therapeutics in a report on Friday, December 13th. They issued an "outperform" rating and a $34.00 price objective for the company. Finally, StockNews.com upgraded Cidara Therapeutics to a "sell" rating in a report on Friday, April 4th.

Cidara Therapeutics Price Performance

CDTX traded up $1.11 during trading on Monday, reaching $18.20. The company had a trading volume of 213,074 shares, compared to its average volume of 74,205. The company has a market cap of $199.34 million, a P/E ratio of -0.71 and a beta of 0.89. Cidara Therapeutics has a 12 month low of $10.00 and a 12 month high of $28.42. The business's fifty day moving average price is $21.43 and its 200 day moving average price is $19.02.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) EPS for the quarter, missing analysts' consensus estimates 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%. As a group, sell-side analysts predict that Cidara Therapeutics will post -8.74 EPS for the current fiscal year.

Insider Activity at Cidara Therapeutics

In other Cidara Therapeutics news, insider Leslie Tari sold 1,773 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total value of $38,935.08. Following the transaction, the insider now directly owns 16,215 shares in the company, valued at $356,081.40. The trade was a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Shane Ward sold 1,664 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total transaction of $36,541.44. Following the completion of the transaction, the chief operating officer now directly owns 14,674 shares in the company, valued at $322,241.04. The trade was a 10.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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