Cidara Therapeutics (NASDAQ:CDTX) Stock Rating Upgraded by Cantor Fitzgerald

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) was upgraded by investment analysts at Cantor Fitzgerald to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

Several other brokerages also recently commented on CDTX. StockNews.com downgraded shares of Cidara Therapeutics from a "hold" rating to a "sell" rating in a report on Monday, November 11th. Royal Bank of Canada started coverage on Cidara Therapeutics in a research note on Friday, December 13th. They issued an "outperform" rating and a $34.00 target price on the stock. WBB Securities lifted their price target on Cidara Therapeutics from $40.00 to $45.00 and gave the company a "strong-buy" rating in a research report on Thursday, December 5th. Guggenheim initiated coverage on shares of Cidara Therapeutics in a research report on Friday, November 8th. They issued a "buy" rating and a $33.00 price objective on the stock. Finally, HC Wainwright reiterated a "buy" rating and set a $24.00 target price on shares of Cidara Therapeutics in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Cidara Therapeutics currently has a consensus rating of "Buy" and an average price target of $32.20.

Cidara Therapeutics Trading Up 2.1 %

Shares of CDTX traded up $0.45 during midday trading on Wednesday, hitting $21.68. 157,418 shares of the company traded hands, compared to its average volume of 94,662. The stock has a 50-day moving average of $22.14 and a 200-day moving average of $15.98. Cidara Therapeutics has a one year low of $10.00 and a one year high of $28.42.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Checkpoint Capital L.P. lifted its stake in shares of Cidara Therapeutics by 25.5% in the 3rd quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company's stock valued at $1,961,000 after acquiring an additional 37,009 shares during the last quarter. RA Capital Management L.P. purchased a new stake in shares of Cidara Therapeutics during the third quarter valued at approximately $7,558,000. Finally, Geode Capital Management LLC boosted its stake in shares of Cidara Therapeutics by 22.7% during the third quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company's stock valued at $569,000 after purchasing an additional 9,771 shares during the period. 35.82% of the stock is currently owned by institutional investors.

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.