Cidara Therapeutics Inc. (CDTX) Upgraded to Hold by Zacks Investment Research
Cidara Therapeutics Inc. (NASDAQ:CDTX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors 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. “
A number of other research analysts have also issued reports on CDTX. 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. Wedbush restated an “outperform” rating on shares of Cidara Therapeutics in a report on Tuesday, August 16th. WBB Securities lowered shares of Cidara Therapeutics from a “hold” rating to a “sell” rating and set a $10.50 price target for the company. in a report on Friday, September 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Cidara Therapeutics in a report on Monday, August 15th. One equities 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. The stock currently has a consensus rating of “Buy” and an average 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 stock traded hands. The stock has a 50-day moving average price of $11.26 and a 200 day moving average price of $11.73. The company’s market cap is $137.81 million. Cidara Therapeutics has a 1-year low of $9.48 and a 1-year high of $18.07.
Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings data on Thursday, August 11th. The biotechnology company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by $0.09. On average, analysts anticipate that Cidara Therapeutics will post ($3.35) EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. TFS Capital LLC bought a new stake in Cidara Therapeutics during the second quarter valued at $217,000. BlackRock Institutional Trust Company N.A. raised its stake in Cidara Therapeutics by 109.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 72,259 shares of the biotechnology company’s stock valued at $745,000 after buying an additional 37,830 shares in the last quarter. BlackRock Fund Advisors raised its stake in Cidara Therapeutics by 123.6% in the second quarter. BlackRock Fund Advisors now owns 275,247 shares of the biotechnology company’s stock valued at $2,838,000 after buying an additional 152,122 shares in the last quarter. BlackRock Investment Management LLC raised its stake in Cidara Therapeutics by 150.0% in the second quarter. BlackRock Investment Management LLC now owns 43,179 shares of the biotechnology company’s stock valued at $445,000 after buying an additional 25,907 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Cidara Therapeutics by 6.2% in the second quarter. Vanguard Group Inc. now owns 172,233 shares of the biotechnology company’s stock valued at $1,776,000 after buying an additional 9,981 shares in the last quarter. Institutional investors own 49.90% 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.
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