Cidara Therapeutics, Inc. (NASDAQ:CDTX) Given Average Recommendation of "Buy" by Analysts

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) have been assigned a consensus rating of "Buy" from the six research firms that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $32.20.

CDTX has been the topic of several recent research reports. Guggenheim initiated coverage on shares of Cidara Therapeutics in a research report on Friday, November 8th. They issued a "buy" rating and a $33.00 price target on the stock. WBB Securities lifted their target price on shares of Cidara Therapeutics from $40.00 to $45.00 and gave the stock a "strong-buy" rating in a research report on Thursday, December 5th. Cantor Fitzgerald upgraded Cidara Therapeutics to a "strong-buy" rating in a research note on Wednesday, February 5th. HC Wainwright restated a "buy" rating and issued a $24.00 target price on shares of Cidara Therapeutics in a research note on Monday, November 11th. Finally, Royal Bank of Canada initiated coverage on Cidara Therapeutics in a research note on Friday, December 13th. They issued an "outperform" rating and a $34.00 target price on the stock.

Cidara Therapeutics Price Performance

Shares of CDTX stock traded down $0.19 on Friday, reaching $23.81. 168,680 shares of the company were exchanged, compared to its average volume of 114,707. Cidara Therapeutics has a one year low of $10.00 and a one year high of $28.42. The company has a market cap of $167.86 million, a price-to-earnings ratio of -0.93 and a beta of 0.94. The company has a 50-day moving average of $22.49 and a 200-day moving average of $16.53.

Institutional Investors Weigh In On Cidara Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in Cidara Therapeutics during the 4th quarter valued at $56,000. Northern Trust Corp raised its holdings in Cidara Therapeutics by 6.8% during the 4th quarter. Northern Trust Corp now owns 33,957 shares of the biotechnology company's stock valued at $913,000 after acquiring an additional 2,170 shares during the period. Point72 Asset Management L.P. bought a new stake in Cidara Therapeutics during the 4th quarter valued at $165,000. Geode Capital Management LLC raised its holdings in Cidara Therapeutics by 22.7% during the 3rd 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 during the period. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Cidara Therapeutics during the 4th quarter valued at $339,000. Institutional investors own 35.82% of the company's stock.

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.