Cidara Therapeutics (NASDAQ:CDTX) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Cidara Therapeutics (NASDAQ:CDTX - Free Report) in a research note released on Monday morning,Benzinga reports. They currently have a $24.00 target price on the biotechnology company's stock.

A number of other analysts also recently weighed in on CDTX. Cantor Fitzgerald reiterated an "overweight" rating on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. Needham & Company LLC reissued a "buy" rating and issued a $25.00 price objective on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. StockNews.com raised Cidara Therapeutics from a "sell" rating to a "hold" rating in a report on Friday, September 13th. Finally, Guggenheim assumed coverage on Cidara Therapeutics in a research report on Friday. They set a "buy" rating and a $33.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $30.50.

Cidara Therapeutics Trading Up 0.4 %

CDTX stock traded up $0.05 during mid-day trading on Monday, hitting $13.55. 6,851 shares of the company were exchanged, compared to its average volume of 38,532. Cidara Therapeutics has a 1-year low of $10.00 and a 1-year high of $24.40. The business has a 50 day simple moving average of $11.56 and a 200-day simple moving average of $12.06.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($2.05) EPS for the quarter, beating the consensus estimate of ($3.94) by $1.89. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 109.77%. The business had revenue of $0.30 million for the quarter. As a group, analysts predict that Cidara Therapeutics will post -12.06 earnings per share for the current year.

Hedge Funds Weigh In On Cidara Therapeutics

A hedge fund recently raised its stake in Cidara Therapeutics stock. Tocqueville Asset Management L.P. lifted its holdings in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) by 71.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 163,000 shares of the biotechnology company's stock after purchasing an additional 68,000 shares during the period. Tocqueville Asset Management L.P. owned 3.57% of Cidara Therapeutics worth $150,000 as of its most recent filing with the SEC. 35.82% of the stock is owned by institutional investors and hedge funds.

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.