Cidara Therapeutics (NASDAQ:CDTX) Now Covered by Guggenheim

Guggenheim assumed coverage on shares of Cidara Therapeutics (NASDAQ:CDTX - Free Report) in a research note published on Friday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $33.00 price target on the biotechnology company's stock.

Several other research firms have also recently commented on CDTX. StockNews.com upgraded Cidara Therapeutics from a "sell" rating to a "hold" rating in a research note on Friday, September 13th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. Needham & Company LLC reiterated a "buy" rating and set a $25.00 target price on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. Finally, HC Wainwright restated a "buy" rating and set a $24.00 price objective on shares of Cidara Therapeutics in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $30.50.

Cidara Therapeutics Stock Up 5.0 %

NASDAQ:CDTX traded up $0.66 during mid-day trading on Friday, reaching $13.77. 21,446 shares of the stock were exchanged, compared to its average volume of 38,669. The stock has a market capitalization of $96.94 million, a P/E ratio of -0.53 and a beta of 0.99. Cidara Therapeutics has a 1 year low of $10.00 and a 1 year high of $24.40. The company has a 50 day simple moving average of $11.52 and a 200-day simple moving average of $12.03.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last announced its earnings results on Tuesday, August 13th. The biotechnology company reported ($2.05) EPS for the quarter, beating analysts' consensus estimates of ($3.94) by $1.89. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 109.89%. The business had revenue of $0.30 million for the quarter. As a group, research analysts predict that Cidara Therapeutics will post -12.06 EPS for the current year.

Institutional Investors Weigh In On Cidara Therapeutics

An institutional investor recently raised its position in Cidara Therapeutics stock. Tocqueville Asset Management L.P. increased its holdings in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) by 71.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 163,000 shares of the biotechnology company's stock after purchasing an additional 68,000 shares during the quarter. Tocqueville Asset Management L.P. owned 3.57% of Cidara Therapeutics worth $150,000 as of its most recent filing with the SEC. 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.