Cidara Therapeutics, Inc. (NASDAQ:CDTX) Receives $71.25 Consensus Target Price from Analysts

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have been given a consensus rating of “Buy” by the four analysts that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $71.25.

A number of brokerages have recently weighed in on CDTX. Needham & Company LLC raised their price objective on Cidara Therapeutics from $3.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Cantor Fitzgerald restated an “overweight” rating on shares of Cidara Therapeutics in a research report on Tuesday, April 23rd. WBB Securities restated a “strong-buy” rating and set a $40.00 price objective on shares of Cidara Therapeutics in a research report on Thursday, April 25th. Finally, HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Cidara Therapeutics in a research report on Monday, April 8th.

Cidara Therapeutics Stock Down 1.4 %

Shares of Cidara Therapeutics stock opened at $11.81 on Thursday. The firm has a market cap of $53.85 million, a price-to-earnings ratio of -2.46 and a beta of 0.98. The business has a 50-day moving average price of $15.24 and a 200-day moving average price of $15.13. Cidara Therapeutics has a twelve month low of $10.00 and a twelve month high of $29.60.

Institutional Trading of Cidara Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new stake in Cidara Therapeutics in the third quarter worth about $28,000. Pale Fire Capital SE bought a new stake in Cidara Therapeutics in the third quarter worth about $51,000. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Cidara Therapeutics by 25.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 15,912 shares during the last quarter. Institutional investors 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.