Cidara Therapeutics (NASDAQ:CDTX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Cidara Therapeutics (NASDAQ:CDTX - Free Report) to a sell rating in a research note released on Wednesday morning.

Other analysts have also issued reports about the stock. Cantor Fitzgerald raised shares of Cidara Therapeutics to a "strong-buy" rating in a research report on Wednesday, February 5th. Needham & Company LLC reiterated a "buy" rating and issued a $35.00 target price on shares of Cidara Therapeutics in a research note on Thursday, April 10th. HC Wainwright boosted their price target on Cidara Therapeutics from $24.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Citigroup assumed coverage on shares of Cidara Therapeutics in a report on Wednesday, March 12th. They set an "outperform" rating for the company. Finally, Citizens Jmp started coverage on Cidara Therapeutics in a report on Wednesday, March 12th. They set an "outperform" rating and a $46.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Cidara Therapeutics currently has an average rating of "Buy" and an average target price of $39.14.

Cidara Therapeutics Stock Performance

NASDAQ CDTX traded up $0.26 during trading on Wednesday, hitting $19.44. The stock had a trading volume of 112,586 shares, compared to its average volume of 75,415. The company has a market capitalization of $212.93 million, a PE ratio of -0.76 and a beta of 0.89. Cidara Therapeutics has a 12 month low of $10.00 and a 12 month high of $28.42. The company's 50-day moving average price is $21.23 and its two-hundred day moving average price is $19.26.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last announced its earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) EPS for the quarter, missing the consensus estimate of ($5.28) by ($0.10). Cidara Therapeutics had a negative return on equity of 69.64% and a negative net margin of 289.05%. As a group, equities analysts anticipate that Cidara Therapeutics will post -8.74 earnings per share for the current fiscal year.

Insider Transactions at Cidara Therapeutics

In other Cidara Therapeutics news, COO Shane Ward sold 1,664 shares of Cidara Therapeutics stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total value of $36,541.44. Following 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Leslie Tari sold 1,773 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total transaction of $38,935.08. Following the completion of the transaction, the insider now directly owns 16,215 shares of the company's stock, valued at $356,081.40. This trade represents a 9.86 % decrease in their position. The disclosure for this sale can be found here. 7.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cidara Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CDTX. VR Adviser LLC acquired a new position in shares of Cidara Therapeutics during the fourth quarter worth $20,583,000. Stempoint Capital LP bought a new stake in Cidara Therapeutics during the 4th quarter worth $1,281,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Cidara Therapeutics in the 4th quarter worth about $56,000. Point72 Asset Management L.P. bought a new position in Cidara Therapeutics in the fourth quarter valued at about $165,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Cidara Therapeutics during the fourth quarter valued at about $339,000. 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.