Cidara Therapeutics (NASDAQ:CDTX) Stock Crosses Above Fifty Day Moving Average - What's Next?

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $21.83 and traded as high as $22.04. Cidara Therapeutics shares last traded at $18.92, with a volume of 151,452 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com upgraded Cidara Therapeutics to a "sell" rating in a research report on Friday. JMP Securities set a $46.00 price target on Cidara Therapeutics in a research note on Wednesday, March 12th. Needham & Company LLC reiterated a "buy" rating and set a $35.00 price objective on shares of Cidara Therapeutics in a research report on Friday, March 7th. Royal Bank of Canada assumed coverage on shares of Cidara Therapeutics in a research report on Friday, December 13th. They set an "outperform" rating and a $34.00 target price for the company. Finally, HC Wainwright lifted their price target on shares of Cidara Therapeutics from $24.00 to $35.00 and gave the company a "buy" rating in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Cidara Therapeutics currently has a consensus rating of "Buy" and an average target price of $39.14.

Cidara Therapeutics Price Performance

The firm has a market cap of $179.96 million, a P/E ratio of -0.64 and a beta of 0.89. The company's 50-day simple moving average is $21.62 and its 200 day simple moving average is $18.83.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) 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%. Analysts anticipate that Cidara Therapeutics, Inc. 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 business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total transaction of $36,541.44. Following the completion of the transaction, the chief operating officer now owns 14,674 shares in the company, valued at $322,241.04. The trade was a 10.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Leslie Tari sold 1,773 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total value of $38,935.08. Following the completion of the sale, the insider now owns 16,215 shares in the company, valued at approximately $356,081.40. The trade was a 9.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.64% of the company's stock.

Hedge Funds Weigh In On Cidara Therapeutics

Hedge funds have recently bought and sold shares of the business. BVF Inc. IL boosted its stake in shares of Cidara Therapeutics by 55.4% during the fourth quarter. BVF Inc. IL now owns 1,092,796 shares of the biotechnology company's stock valued at $29,374,000 after purchasing an additional 389,731 shares during the period. RA Capital Management L.P. grew its stake in Cidara Therapeutics by 55.4% in the fourth quarter. RA Capital Management L.P. now owns 1,092,796 shares of the biotechnology company's stock worth $29,374,000 after purchasing an additional 389,716 shares in the last quarter. TCG Crossover Management LLC purchased a new position in Cidara Therapeutics during the 4th quarter worth $26,092,000. VR Adviser LLC bought a new stake in Cidara Therapeutics during the 4th quarter valued at $20,583,000. Finally, Vivo Capital LLC purchased a new stake in shares of Cidara Therapeutics in the 4th quarter worth $18,026,000. Institutional investors own 35.82% of the company's stock.

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.