Cidara Therapeutics, Inc. (NASDAQ:CDTX) Receives $39.14 Average PT from Analysts

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) have received a consensus rating of "Buy" from the eight brokerages that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $39.14.

A number of equities analysts recently issued reports on the stock. Citizens Jmp assumed coverage on shares of Cidara Therapeutics in a research note on Wednesday. They issued an "outperform" rating and a $46.00 price target for the company. Needham & Company LLC reissued a "buy" rating and issued a $35.00 target price on shares of Cidara Therapeutics in a research report on Friday, March 7th. WBB Securities upped their price target on Cidara Therapeutics from $40.00 to $45.00 and gave the stock a "strong-buy" rating in a research note on Thursday, December 5th. Royal Bank of Canada initiated 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, Cantor Fitzgerald upgraded shares of Cidara Therapeutics to a "strong-buy" rating in a report on Wednesday, February 5th.

Insider Activity

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

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Hedge Funds Weigh In On Cidara Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in Cidara Therapeutics in the fourth quarter worth approximately $56,000. Point72 Asset Management L.P. bought a new position in Cidara Therapeutics in the 4th quarter worth $165,000. OMERS ADMINISTRATION Corp purchased a new position in Cidara Therapeutics during the fourth quarter valued at $339,000. Jane Street Group LLC purchased a new position in Cidara Therapeutics during the fourth quarter valued at $342,000. Finally, Boothbay Fund Management LLC purchased a new stake in Cidara Therapeutics in the fourth quarter worth about $419,000. Hedge funds and other institutional investors own 35.82% of the company's stock.

Cidara Therapeutics Trading Down 1.4 %

Shares of CDTX stock traded down $0.31 during trading hours on Thursday, reaching $22.05. The company's stock had a trading volume of 60,726 shares, compared to its average volume of 60,988. Cidara Therapeutics has a one year low of $10.00 and a one year high of $28.42. The stock has a market capitalization of $155.39 million, a P/E ratio of -0.86 and a beta of 0.88. The firm's fifty day simple moving average is $22.08 and its 200 day simple moving average is $17.80.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share (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, equities research analysts forecast that Cidara Therapeutics will post -8.74 earnings per share for the current fiscal year.

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.