Cidara Therapeutics Inc. (CDTX) Upgraded to “Hold” at Zacks Investment Research
Cidara Therapeutics Inc. (NASDAQ:CDTX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a 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. “
Several other equities research analysts also recently commented on the company. WBB Securities downgraded Cidara Therapeutics from a “hold” rating to a “sell” rating and set a $10.50 price objective for the company. in a report on Friday, September 23rd. Wedbush reiterated an “outperform” rating on shares of Cidara Therapeutics in a report on Tuesday, August 16th. BTIG Research reiterated a “buy” rating and issued a $24.00 price objective on shares of Cidara Therapeutics in a report on Monday, August 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Cidara Therapeutics in a research note on Monday, August 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Cidara Therapeutics currently has an average rating of “Buy” and a consensus price target of $17.90.
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Cidara Therapeutics (NASDAQ:CDTX) traded down 0.10% on Monday, hitting $9.91. 39,793 shares of the company traded hands. The firm’s market capitalization is $137.81 million. The firm’s 50 day moving average price is $11.26 and its 200 day moving average price is $11.73. Cidara Therapeutics has a 1-year low of $9.48 and a 1-year high of $18.07.
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 the consensus estimate of ($0.76) by $0.09. Equities research analysts predict that Cidara Therapeutics will post ($3.35) EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Teachers Advisors Inc. boosted 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 bought a new position in Cidara Therapeutics during the second quarter worth $145,000. Spark Investment Management LLC boosted 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. bought a new position in Cidara Therapeutics during the second quarter worth $177,000. Finally, Emerald Acquisition Ltd. bought a new position in Cidara Therapeutics during the second quarter worth $183,000. 49.90% of the stock is currently owned by hedge funds and other institutional investors.
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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