Cidara Therapeutics (NASDAQ:CDTX) Price Target Raised to $25.00 at Needham & Company LLC

Cidara Therapeutics (NASDAQ:CDTX) had its target price raised by Needham & Company LLC from $3.00 to $25.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

CDTX has been the subject of a number of other research reports. HC Wainwright reissued a buy rating and issued a $120.00 price target on shares of Cidara Therapeutics in a report on Monday, April 8th. Cantor Fitzgerald reaffirmed an overweight rating on shares of Cidara Therapeutics in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cidara Therapeutics currently has an average rating of Buy and an average target price of $71.25.

Cidara Therapeutics Price Performance

Shares of CDTX opened at $13.00 on Thursday. Cidara Therapeutics has a one year low of $10.00 and a one year high of $29.60. The stock has a 50-day moving average price of $15.37 and a 200 day moving average price of $15.33.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CDTX. Flagship Harbor Advisors LLC acquired a new position in shares of Cidara Therapeutics during the 3rd quarter worth $28,000. Pale Fire Capital SE acquired a new position in Cidara Therapeutics in the 3rd quarter valued at $51,000. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Cidara Therapeutics by 25.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock valued at $75,000 after buying an additional 15,912 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

About Cidara Therapeutics

Cidara Therapeutics, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States. The company's lead product candidate is 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.