Cidara Therapeutics Inc. (CDTX) Upgraded to “Hold” at Zacks Investment Research
Cidara Therapeutics Inc. (NASDAQ:CDTX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Cidara Therapeutics, Inc. is a biotechnology company. The company is focused on the discovery, development and commercialization of novel anti-infectives. Its product pipeline includes CD101 IV, a long-acting echinocandin antifungal, CD101 topical and C001 which are in different clinical trial. The company developed its product using Cloudbreak(TM) immunotherapy platform. Cidara Therapeutics, Inc. is headquartered in San Diego, California. “
Several other research firms also recently commented on CDTX. WBB Securities downgraded shares of Cidara Therapeutics from a “hold” rating to a “sell” rating and set a $10.50 price objective on the stock. in a report on Friday, September 23rd. Wedbush reaffirmed an “outperform” rating on shares of Cidara Therapeutics in a report on Tuesday, August 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Cidara Therapeutics in a report on Monday, August 15th. Finally, BTIG Research reaffirmed a “buy” rating and set a $24.00 price objective on shares of Cidara Therapeutics in a report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $17.90.
Shares of Cidara Therapeutics (NASDAQ:CDTX) traded down 0.10% during midday trading on Monday, hitting $9.91. 39,793 shares of the company traded hands. The stock has a 50 day moving average of $11.26 and a 200-day moving average of $11.73. Cidara Therapeutics has a 52 week low of $9.48 and a 52 week high of $18.07. The stock’s market capitalization is $137.81 million.
Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings data on Thursday, August 11th. The biotechnology company reported ($0.85) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.76) by $0.09. Equities analysts forecast that Cidara Therapeutics will post ($3.35) earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the company. Teachers Advisors Inc. increased its stake in shares of Cidara Therapeutics by 103.0% in the second quarter. Teachers Advisors Inc. now owns 14,066 shares of the biotechnology company’s stock worth $145,000 after buying an additional 7,137 shares during the last quarter. Rhumbline Advisers purchased a new stake in shares of Cidara Therapeutics during the second quarter worth about $145,000. Spark Investment Management LLC increased its stake in shares of Cidara Therapeutics by 26.7% in the second quarter. Spark Investment Management LLC now owns 14,700 shares of the biotechnology company’s stock worth $151,000 after buying an additional 3,100 shares during the last quarter. Schwab Charles Investment Management Inc. purchased a new stake in shares of Cidara Therapeutics during the second quarter worth about $177,000. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of Cidara Therapeutics during the second quarter worth about $183,000. 49.90% of the stock is currently owned by hedge funds and other institutional investors.
About Cidara Therapeutics
Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.
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