HC Wainwright Issues Positive Forecast for Cidara Therapeutics (NASDAQ:CDTX) Stock Price

Cidara Therapeutics (NASDAQ:CDTX - Free Report) had its target price hoisted by HC Wainwright from $24.00 to $35.00 in a research note issued to investors on Monday morning,Benzinga reports. HC Wainwright currently has a buy rating on the biotechnology company's stock. HC Wainwright also issued estimates for Cidara Therapeutics' Q1 2025 earnings at ($5.45) EPS, Q2 2025 earnings at ($1.08) EPS, Q3 2025 earnings at ($0.69) EPS, Q4 2025 earnings at ($1.34) EPS, FY2025 earnings at ($7.12) EPS, FY2026 earnings at ($14.64) EPS, FY2027 earnings at ($16.66) EPS, FY2028 earnings at ($4.73) EPS and FY2029 earnings at ($1.96) EPS.

Several other research analysts also recently commented on CDTX. Royal Bank of Canada started coverage on Cidara Therapeutics in a research note on Friday, December 13th. They set an "outperform" rating and a $34.00 target price for the company. WBB Securities upped their price objective 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. Needham & Company LLC restated a "buy" rating and issued a $35.00 target price on shares of Cidara Therapeutics in a research report on Friday, March 7th. Cantor Fitzgerald upgraded shares of Cidara Therapeutics to a "strong-buy" rating in a report on Wednesday, February 5th. Finally, StockNews.com cut Cidara Therapeutics from a "hold" rating to a "sell" rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Cidara Therapeutics presently has a consensus rating of "Buy" and an average target price of $39.14.

Remove Ads

Cidara Therapeutics Stock Performance

Shares of NASDAQ CDTX traded down $0.64 during trading hours on Monday, hitting $22.36. 84,965 shares of the stock were exchanged, compared to its average volume of 60,830. The company's fifty day simple moving average is $22.27 and its two-hundred day simple moving average is $17.67. The company has a market cap of $157.57 million, a PE ratio of -0.88 and a beta of 0.88. Cidara Therapeutics has a 1-year low of $10.00 and a 1-year high of $28.42.

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

Insider Transactions at Cidara Therapeutics

In other Cidara Therapeutics news, COO Shane Ward sold 1,664 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total transaction of $36,541.44. Following the completion of the sale, the chief operating officer now owns 14,674 shares of the company's stock, valued at approximately $322,241.04. This represents a 10.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Leslie Tari sold 1,773 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total transaction of $38,935.08. Following the completion of the sale, the insider now directly owns 16,215 shares in the company, valued at approximately $356,081.40. This represents a 9.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cidara Therapeutics during the fourth quarter worth approximately $56,000. Northern Trust Corp boosted its holdings in shares of Cidara Therapeutics by 6.8% during the 4th quarter. Northern Trust Corp now owns 33,957 shares of the biotechnology company's stock worth $913,000 after buying an additional 2,170 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Cidara Therapeutics during the 4th quarter worth approximately $165,000. Geode Capital Management LLC increased its stake in shares of Cidara Therapeutics by 22.7% in 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 in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Cidara Therapeutics in the 4th quarter valued at $339,000. 35.82% of the stock is owned by institutional investors.

About Cidara Therapeutics

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.