Cidara Therapeutics, Inc. (CDTX) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) from a hold rating to a buy rating in a research report released on Tuesday, July 11th. The firm currently has $8.00 target price on the biotechnology company’s stock.
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 analysts also recently weighed in on CDTX. Cantor Fitzgerald restated a buy rating and set a $9.00 price objective on shares of Cidara Therapeutics in a report on Thursday, March 16th. Wedbush restated an outperform rating and set a $13.00 price objective on shares of Cidara Therapeutics in a report on Thursday, March 16th. Needham & Company LLC reiterated a buy rating and issued a $10.00 target price on shares of Cidara Therapeutics in a report on Thursday, March 16th. Jefferies Group LLC reiterated a buy rating and issued a $15.00 target price on shares of Cidara Therapeutics in a report on Friday, March 24th. Finally, Ladenburg Thalmann Financial Services assumed coverage on shares of Cidara Therapeutics in a report on Wednesday, April 12th. They issued a buy rating and a $11.25 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Cidara Therapeutics presently has a consensus rating of Buy and a consensus target price of $12.41.
Shares of Cidara Therapeutics (NASDAQ CDTX) traded up 0.74% during midday trading on Tuesday, reaching $6.80. 39,746 shares of the company were exchanged. The stock has a 50-day moving average price of $7.36 and a 200 day moving average price of $7.64. Cidara Therapeutics has a 52-week low of $5.65 and a 52-week high of $12.95. The company’s market capitalization is $114.28 million.
Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings data on Wednesday, May 10th. The biotechnology company reported ($0.80) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.90) by $0.10. Equities research analysts expect that Cidara Therapeutics will post ($3.46) EPS for the current fiscal year.
In other Cidara Therapeutics news, CEO Jeffrey Stein bought 15,000 shares of the business’s stock in a transaction on Monday, June 5th. The stock was purchased at an average price of $5.95 per share, for a total transaction of $89,250.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Taylor Sandison bought 20,000 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were acquired at an average price of $5.90 per share, with a total value of $118,000.00. The disclosure for this purchase can be found here. 18.90% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of CDTX. Trexquant Investment LP acquired a new position in shares of Cidara Therapeutics during the second quarter worth $110,000. Teachers Advisors LLC raised its position in shares of Cidara Therapeutics by 17.5% in the fourth quarter. Teachers Advisors LLC now owns 16,524 shares of the biotechnology company’s stock worth $172,000 after buying an additional 2,458 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Cidara Therapeutics during the fourth quarter worth approximately $173,000. JPMorgan Chase & Co. raised its position in Cidara Therapeutics by 455.6% in the first quarter. JPMorgan Chase & Co. now owns 25,639 shares of the biotechnology company’s stock worth $200,000 after buying an additional 21,024 shares during the period. Finally, Spark Investment Management LLC purchased a new position in Cidara Therapeutics during the first quarter worth approximately $227,000. Hedge funds and other institutional investors own 68.46% of the company’s stock.
Cidara Therapeutics Company Profile
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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