Cidara Therapeutics’ (CDTX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a report issued on Monday morning, Benzinga reports. They currently have a $24.00 price target on the biotechnology company’s stock.

A number of other brokerages also recently commented on CDTX. Needham & Company LLC reiterated a buy rating and issued a $25.00 price objective on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. StockNews.com raised Cidara Therapeutics from a sell rating to a hold rating in a research report on Friday, September 13th. Finally, Cantor Fitzgerald restated an overweight rating on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cidara Therapeutics has an average rating of Buy and a consensus target price of $29.67.

Cidara Therapeutics Trading Down 0.1 %

Shares of CDTX stock opened at $11.62 on Monday. The firm has a market capitalization of $53.01 million, a P/E ratio of -1.51 and a beta of 1.04. Cidara Therapeutics has a 1 year low of $10.00 and a 1 year high of $24.40. The firm’s fifty day simple moving average is $12.17 and its 200 day simple moving average is $13.19.

Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings data on Tuesday, August 13th. The biotechnology company reported ($2.05) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $0.30 million for the quarter. Equities research analysts anticipate that Cidara Therapeutics will post -12.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Cidara Therapeutics stock. Tocqueville Asset Management L.P. raised its position in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 163,000 shares of the biotechnology company’s stock after buying an additional 68,000 shares during the period. Tocqueville Asset Management L.P. owned 3.57% of Cidara Therapeutics worth $150,000 as of its most recent SEC filing. 35.82% of the stock is currently owned by institutional investors and hedge funds.

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.