Cidara Therapeutics, Inc. (NASDAQ:CDTX) Receives $29.67 Consensus Target Price from Analysts

Cidara Therapeutics, Inc. (NASDAQ:CDTX) has received a consensus recommendation of “Buy” from the five brokerages that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $30.50.

CDTX has been the topic of a number of analyst reports. Guggenheim began coverage on Cidara Therapeutics in a research report on Friday, November 8th. They issued a “buy” rating and a $33.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $24.00 price target on shares of Cidara Therapeutics in a research note on Monday. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price target on shares of Cidara Therapeutics in a report on Wednesday, August 14th. StockNews.com cut shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Cidara Therapeutics in a report on Wednesday, August 14th.

Institutional Inflows and Outflows

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

Cidara Therapeutics Stock Up 0.7 %

Shares of CDTX stock opened at $13.45 on Friday. The firm has a 50 day moving average of $11.62 and a two-hundred day moving average of $12.07. The stock has a market capitalization of $94.69 million, a PE ratio of -0.53 and a beta of 0.99. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $24.40.

Cidara Therapeutics (NASDAQ:CDTX) last released its earnings results on Tuesday, August 13th. The biotechnology company reported ($2.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.94) by $1.89. Cidara Therapeutics had a negative return on equity of 109.77% and a negative net margin of 289.05%. The firm had revenue of $0.30 million during the quarter. Analysts expect that Cidara Therapeutics will post -12.06 EPS for the current fiscal year.

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.