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

Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) has been assigned an average rating of "Buy" from the five ratings firms that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $30.50.

Several analysts have issued reports on CDTX shares. Cantor Fitzgerald reissued an "overweight" rating on shares of Cidara Therapeutics in a report on Wednesday, August 14th. HC Wainwright restated a "buy" rating and set a $24.00 price objective on shares of Cidara Therapeutics in a research report on Monday, November 11th. Needham & Company LLC restated a "buy" rating and set a $25.00 price objective on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. StockNews.com downgraded Cidara Therapeutics from a "hold" rating to a "sell" rating in a report on Monday, November 11th. Finally, Guggenheim assumed coverage on Cidara Therapeutics in a research note on Friday, November 8th. They issued a "buy" rating and a $33.00 price objective on the stock.

Institutional Trading of Cidara Therapeutics

A number of large investors have recently modified their holdings of CDTX. RA Capital Management L.P. acquired a new position in shares of Cidara Therapeutics during the third quarter worth $7,558,000. Checkpoint Capital L.P. boosted its stake in Cidara Therapeutics by 25.5% in the third quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company's stock valued at $1,961,000 after acquiring an additional 37,009 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Cidara Therapeutics by 22.7% in the third quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company's stock valued at $569,000 after acquiring an additional 9,771 shares in the last quarter. Hedge funds and other institutional investors own 35.82% of the company's stock.

Cidara Therapeutics Trading Down 5.6 %

NASDAQ:CDTX traded down $1.05 during trading hours on Tuesday, reaching $17.71. 62,747 shares of the company traded hands, compared to its average volume of 41,364. The business's 50-day moving average price is $13.28 and its two-hundred day moving average price is $12.55. The stock has a market capitalization of $124.86 million, a P/E ratio of -0.74 and a beta of 1.12. Cidara Therapeutics has a 1 year low of $10.00 and a 1 year high of $24.40.

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.