Cidara Therapeutics, Inc. (CDTX) Receives Average Recommendation of “Buy” from Brokerages
Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have been assigned an average recommendation of “Buy” from the twelve brokerages that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $14.28.
Several equities analysts recently weighed in on CDTX shares. Zacks Investment Research upgraded shares of Cidara Therapeutics from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a report on Monday, June 19th. Cantor Fitzgerald started coverage on shares of Cidara Therapeutics in a report on Monday, June 26th. They set an “overweight” rating and a $7.00 target price on the stock. Finally, ValuEngine lowered shares of Cidara Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd.
Cidara Therapeutics (NASDAQ:CDTX) traded up 2.19% on Friday, reaching $7.00. The company’s stock had a trading volume of 87,697 shares. The firm has a 50 day moving average price of $6.72 and a 200 day moving average price of $7.01. Cidara Therapeutics has a 52 week low of $5.60 and a 52 week high of $12.95. The stock’s market capitalization is $118.04 million.
Cidara Therapeutics (NASDAQ:CDTX) last posted its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.99) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.91) by ($0.08). On average, equities analysts anticipate that Cidara Therapeutics will post ($3.62) EPS for the current year.
In other news, CEO Jeffrey Stein acquired 7,350 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were purchased at an average price of $6.79 per share, for a total transaction of $49,906.50. Following the acquisition, the chief executive officer now directly owns 51,851 shares of the company’s stock, valued at approximately $352,068.29. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 18.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of CDTX. Teachers Advisors LLC lifted its holdings in Cidara Therapeutics by 17.5% in the 4th 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. Bank of New York Mellon Corp lifted its holdings in Cidara Therapeutics by 6.7% in the 1st quarter. Bank of New York Mellon Corp now owns 42,350 shares of the biotechnology company’s stock worth $330,000 after buying an additional 2,647 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Cidara Therapeutics by 455.6% in the 1st 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 in the last quarter. Spark Investment Management LLC acquired a new position in Cidara Therapeutics in the 1st quarter worth $227,000. Finally, TIAA CREF Investment Management LLC lifted its holdings in Cidara Therapeutics by 4.9% in the 1st quarter. TIAA CREF Investment Management LLC now owns 39,065 shares of the biotechnology company’s stock worth $305,000 after buying an additional 1,840 shares in the last quarter. Hedge funds and other institutional investors own 66.10% of the company’s stock.
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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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