Cidara Therapeutics Inc. (NASDAQ:CDTX) dropped 6.4% on Wednesday . The company traded as low as $11.51 and last traded at $11.59, with a volume of 74,872 shares. The stock had previously closed at $12.38.

A number of equities research analysts recently commented on the company. Zacks Investment Research downgraded Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 12th. Wedbush reaffirmed an “outperform” rating on shares of Cidara Therapeutics in a report on Tuesday, August 16th. BTIG Research reaffirmed a “buy” rating and set a $24.00 target price on shares of Cidara Therapeutics in a report on Monday, August 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Cidara Therapeutics in a report on Monday, August 15th. Finally, Leerink Swann reaffirmed a “buy” rating on shares of Cidara Therapeutics in a report on Sunday, June 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Cidara Therapeutics has an average rating of “Buy” and a consensus price target of $18.40.

The company’s market capitalization is $164.65 million. The stock’s 50-day moving average price is $11.61 and its 200 day moving average price is $11.65.

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Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings data on Thursday, August 11th. The biotechnology company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by $0.09. On average, analysts predict that Cidara Therapeutics Inc. will post ($3.37) EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDTX. Teachers Advisors Inc. increased its position in Cidara Therapeutics by 103.0% in the second quarter. Teachers Advisors Inc. now owns 14,066 shares of the biotechnology company’s stock worth $145,000 after buying an additional 7,137 shares during the last quarter. Rhumbline Advisers acquired a new position in Cidara Therapeutics during the second quarter worth approximately $145,000. Spark Investment Management LLC increased its position in Cidara Therapeutics by 26.7% in the second quarter. Spark Investment Management LLC now owns 14,700 shares of the biotechnology company’s stock worth $151,000 after buying an additional 3,100 shares during the last quarter. Schwab Charles Investment Management Inc. acquired a new position in Cidara Therapeutics during the second quarter worth approximately $177,000. Finally, Emerald Acquisition Ltd. acquired a new position in Cidara Therapeutics during the second quarter worth approximately $183,000. Institutional investors and hedge funds own 58.87% 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.

5 Day Chart for NASDAQ:CDTX

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