Analysts Set Cidara Therapeutics, Inc. (NASDAQ:CDTX) PT at $32.20

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) have been assigned a consensus rating of "Buy" from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $32.20.

A number of brokerages have weighed in on CDTX. WBB Securities boosted their target price on Cidara Therapeutics from $40.00 to $45.00 and gave the stock a "strong-buy" rating in a research report on Thursday, December 5th. HC Wainwright reiterated a "buy" rating and set a $24.00 target price on shares of Cidara Therapeutics in a research note on Monday, November 11th. Guggenheim began coverage on Cidara Therapeutics in a research note on Friday, November 8th. They issued a "buy" rating and a $33.00 price target on the stock. Royal Bank of Canada assumed coverage on Cidara Therapeutics in a research report on Friday, December 13th. They set an "outperform" rating and a $34.00 price objective for the company. Finally, StockNews.com downgraded Cidara Therapeutics from a "hold" rating to a "sell" rating in a research note on Monday, November 11th.

Cidara Therapeutics Stock Up 2.0 %

Cidara Therapeutics stock traded up $0.47 during trading hours on Friday, hitting $23.69. The stock had a trading volume of 134,433 shares, compared to its average volume of 43,455. The stock's 50-day moving average price is $17.64 and its 200-day moving average price is $13.86. The stock has a market capitalization of $166.94 million, a P/E ratio of -0.93 and a beta of 1.13. Cidara Therapeutics has a 12-month low of $10.00 and a 12-month high of $24.99.

Institutional Investors Weigh In On Cidara Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDTX. Geode Capital Management LLC lifted its stake in shares of 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 buying an additional 9,771 shares in the last quarter. Checkpoint Capital L.P. increased its holdings in shares of Cidara Therapeutics by 25.5% in the third quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company's stock worth $1,961,000 after purchasing an additional 37,009 shares during the last quarter. Finally, RA Capital Management L.P. purchased a new position in Cidara Therapeutics during the 3rd quarter valued at approximately $7,558,000. 35.82% of the stock is owned by hedge funds and other 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.