Cidara Therapeutics, Inc. (NASDAQ:CDTX) Given Consensus Rating of “Buy” by Analysts

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have earned an average recommendation of “Buy” from the six analysts that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $32.20.

Several brokerages have recently issued reports on CDTX. Royal Bank of Canada began coverage on shares of Cidara Therapeutics in a report on Friday, December 13th. They set an “outperform” rating and a $34.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $24.00 price target on shares of Cidara Therapeutics in a report on Monday, November 11th. StockNews.com downgraded shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Cantor Fitzgerald upgraded shares of Cidara Therapeutics to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Guggenheim began coverage on shares of Cidara Therapeutics in a report on Friday, November 8th. They set a “buy” rating and a $33.00 price target for the company.

Cidara Therapeutics Price Performance

Shares of CDTX opened at $21.47 on Friday. Cidara Therapeutics has a one year low of $10.00 and a one year high of $28.42. The company has a market cap of $151.36 million, a P/E ratio of -0.84 and a beta of 0.94. The firm has a 50 day simple moving average of $22.52 and a two-hundred day simple moving average of $16.73.

Institutional Trading of Cidara Therapeutics

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Cidara Therapeutics by 22.7% in the third quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock worth $569,000 after purchasing an additional 9,771 shares during the last quarter. RA Capital Management L.P. bought a new stake in shares of Cidara Therapeutics in the third quarter worth $7,558,000. Checkpoint Capital L.P. grew its stake in shares of Cidara Therapeutics by 25.5% in the third quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company’s stock worth $1,961,000 after purchasing an additional 37,009 shares during the last quarter. Stempoint Capital LP bought a new stake in shares of Cidara Therapeutics in the fourth quarter worth $1,281,000. Finally, Schonfeld Strategic Advisors LLC grew its stake in shares of Cidara Therapeutics by 154.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 49,557 shares of the biotechnology company’s stock worth $1,332,000 after purchasing an additional 30,057 shares during the last quarter. 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.