Cidara Therapeutics, Inc. (CDTX) Downgraded by Zacks Investment Research to Sell
Zacks Investment Research lowered shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) from a hold rating to a sell rating in a research report released 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. “
A number of other brokerages have also recently commented on CDTX. BTIG Research reiterated a buy rating and issued a $20.00 target price (up previously from $15.00) on shares of Cidara Therapeutics in a research report on Saturday, April 29th. ValuEngine upgraded shares of Cidara Therapeutics from a strong sell rating to a sell rating in a research report on Friday, July 14th. Wedbush reiterated an outperform rating and issued a $13.00 target price on shares of Cidara Therapeutics in a research report on Tuesday, May 16th. Cantor Fitzgerald reiterated a buy rating and issued a $11.00 target price on shares of Cidara Therapeutics in a research report on Monday, April 24th. Finally, HC Wainwright reiterated a buy rating and issued a $14.00 target price (down previously from $18.00) on shares of Cidara Therapeutics in a research report on Monday, April 17th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Cidara Therapeutics presently has a consensus rating of Buy and an average price target of $13.14.
Shares of Cidara Therapeutics (NASDAQ:CDTX) traded down 1.71% during mid-day trading on Monday, hitting $5.75. 108,819 shares of the company traded hands. The firm’s 50 day moving average price is $7.26 and its 200-day moving average price is $7.46. The stock’s market capitalization is $96.95 million. Cidara Therapeutics has a 1-year low of $5.65 and a 1-year high of $12.95.
Cidara Therapeutics (NASDAQ:CDTX) last issued its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by $0.08. On average, equities research analysts forecast that Cidara Therapeutics will post ($3.58) EPS for the current year.
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In other news, insider Taylor Sandison purchased 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Stein purchased 15,000 shares of the business’s stock in a transaction on Monday, June 5th. The stock was purchased at an average cost of $5.95 per share, for a total transaction of $89,250.00. The disclosure for this purchase can be found here. 18.90% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the company. LMR Partners LLP purchased a new stake in shares of Cidara Therapeutics during the second quarter worth about $331,000. Trexquant Investment LP purchased a new stake in shares of Cidara Therapeutics during the second quarter worth about $110,000. Trellus Management Company LLC purchased a new stake in shares of Cidara Therapeutics during the second quarter worth about $338,000. Perceptive Advisors LLC raised its stake in shares of Cidara Therapeutics by 6.9% in the first quarter. Perceptive Advisors LLC now owns 826,369 shares of the biotechnology company’s stock worth $6,445,000 after buying an additional 53,000 shares during the period. Finally, Tekla Capital Management LLC raised its stake in shares of Cidara Therapeutics by 116.3% in the first quarter. Tekla Capital Management LLC now owns 286,472 shares of the biotechnology company’s stock worth $2,234,000 after buying an additional 154,000 shares during the period. 68.22% of the stock is currently owned by institutional investors and hedge funds.
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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