HC Wainwright Raises Cidara Therapeutics (NASDAQ:CDTX) Price Target to $35.00

Cidara Therapeutics (NASDAQ:CDTX) had its price objective lifted by HC Wainwright from $24.00 to $35.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock. HC Wainwright also issued estimates for Cidara Therapeutics’ Q1 2025 earnings at ($5.45) EPS, Q2 2025 earnings at ($1.08) EPS, Q3 2025 earnings at ($0.69) EPS, Q4 2025 earnings at ($1.34) EPS, FY2025 earnings at ($7.12) EPS, FY2026 earnings at ($14.64) EPS, FY2027 earnings at ($16.66) EPS, FY2028 earnings at ($4.73) EPS and FY2029 earnings at ($1.96) EPS.

Several other research analysts have also commented on the company. Royal Bank of Canada began coverage on Cidara Therapeutics in a research report on Friday, December 13th. They issued an “outperform” rating and a $34.00 price target for the company. WBB Securities boosted their price target on Cidara Therapeutics from $40.00 to $45.00 and gave the stock a “strong-buy” rating in a research report on Thursday, December 5th. StockNews.com lowered Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Cantor Fitzgerald raised Cidara Therapeutics to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $35.00 target price on shares of Cidara Therapeutics in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $39.14.

Cidara Therapeutics Stock Up 9.5 %

Shares of NASDAQ CDTX opened at $23.00 on Monday. The business has a fifty day simple moving average of $22.35 and a two-hundred day simple moving average of $17.64. The firm has a market cap of $162.08 million, a PE ratio of -0.90 and a beta of 0.88. Cidara Therapeutics has a twelve month low of $10.00 and a twelve month high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly 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%. On average, research analysts expect that Cidara Therapeutics will post -8.74 earnings per share for the current year.

Institutional Trading of Cidara Therapeutics

Large investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cidara Therapeutics during the 4th quarter valued at about $56,000. Point72 Asset Management L.P. purchased a new stake in Cidara Therapeutics during the 4th quarter valued at about $165,000. OMERS ADMINISTRATION Corp purchased a new stake in Cidara Therapeutics during the 4th quarter valued at about $339,000. Jane Street Group LLC purchased a new stake in Cidara Therapeutics during the 4th quarter valued at about $342,000. Finally, Boothbay Fund Management LLC purchased a new stake in Cidara Therapeutics during the 4th quarter valued at about $419,000. Hedge funds and other 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.