Cidara Therapeutics (NASDAQ:CDTX) Raised to Strong-Buy at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Cidara Therapeutics (NASDAQ:CDTX) to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

Other equities analysts have also issued reports about the company. WBB Securities upped their target price on Cidara Therapeutics from $40.00 to $45.00 and gave the stock a “strong-buy” rating in a research note on Thursday, December 5th. Royal Bank of Canada initiated 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. HC Wainwright reiterated a “buy” rating and issued a $24.00 price objective on shares of Cidara Therapeutics in a report on Monday, November 11th. Guggenheim initiated coverage on Cidara Therapeutics in a report on Friday, November 8th. They issued a “buy” rating and a $33.00 price objective for the company. Finally, StockNews.com cut Cidara Therapeutics from a “hold” rating to a “sell” rating in a 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 stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $32.20.

Cidara Therapeutics Stock Up 2.1 %

Shares of NASDAQ CDTX opened at $21.68 on Wednesday. The firm has a market capitalization of $152.84 million, a P/E ratio of -0.85 and a beta of 0.94. The stock’s 50-day simple moving average is $22.14 and its two-hundred day simple moving average is $15.95. Cidara Therapeutics has a twelve month low of $10.00 and a twelve month high of $28.42.

Institutional Investors Weigh In On Cidara Therapeutics

Several institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in Cidara Therapeutics by 22.7% during the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock valued at $569,000 after acquiring an additional 9,771 shares during the period. RA Capital Management L.P. purchased a new stake in Cidara Therapeutics during the 3rd quarter valued at about $7,558,000. Finally, Checkpoint Capital L.P. boosted its holdings in Cidara Therapeutics by 25.5% during 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 period. 35.82% of the stock is currently owned by hedge funds and other 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.