Cidara Therapeutics Inc (NASDAQ:CDTX)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a report released on Tuesday. They presently have a $13.00 price objective on the biotechnology company’s stock. Wedbush’s price objective indicates a potential upside of 75.68% from the company’s previous close.

Several other equities analysts have also recently commented on CDTX. Needham & Company LLC reduced their price target on shares of Cidara Therapeutics from $20.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, February 21st. WBB Securities raised shares of Cidara Therapeutics from a “sell” rating to a “hold” rating and set a $7.25 price target on the stock in a research report on Wednesday, February 22nd. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target (down previously from $25.00) on shares of Cidara Therapeutics in a research report on Wednesday, February 22nd. Zacks Investment Research raised shares of Cidara Therapeutics from a “sell” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Thursday, February 23rd. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $9.00 price target on shares of Cidara Therapeutics in a research report on Thursday, March 16th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $12.77.

Analyst Recommendations for Cidara Therapeutics (NASDAQ:CDTX)

Shares of Cidara Therapeutics (NASDAQ:CDTX) opened at 7.40 on Tuesday. The firm’s 50-day moving average price is $7.20 and its 200-day moving average price is $8.99. Cidara Therapeutics has a one year low of $6.10 and a one year high of $12.95. The stock’s market capitalization is $124.36 million.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings results on Wednesday, May 10th. The biotechnology company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.10. Equities research analysts anticipate that Cidara Therapeutics will post ($3.41) EPS for the current fiscal year.

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In other Cidara Therapeutics news, CEO Jeffrey Stein bought 12,900 shares of the business’s stock in a transaction on Friday, March 31st. The shares were purchased at an average price of $7.75 per share, with a total value of $99,975.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kevin Forrest bought 12,500 shares of the business’s stock in a transaction on Friday, March 31st. The stock was acquired at an average cost of $7.75 per share, for a total transaction of $96,875.00. The disclosure for this purchase can be found here. Company insiders own 22.20% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Oxford Asset Management acquired a new position in shares of Cidara Therapeutics during the fourth quarter worth about $133,000. Teachers Advisors LLC boosted its position in shares of Cidara Therapeutics by 21.2% in the first quarter. Teachers Advisors LLC now owns 20,021 shares of the biotechnology company’s stock worth $156,000 after buying an additional 3,497 shares in the last quarter. Spark Investment Management LLC boosted its position in shares of Cidara Therapeutics by 2.7% in the third quarter. Spark Investment Management LLC now owns 15,100 shares of the biotechnology company’s stock worth $172,000 after buying an additional 400 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Cidara Therapeutics during the fourth quarter worth about $173,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Cidara Therapeutics by 455.6% in the first quarter. JPMorgan Chase & Co. now owns 25,639 shares of the biotechnology company’s stock worth $200,000 after buying an additional 21,024 shares in the last quarter. 47.34% 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.

5 Day Chart for NASDAQ:CDTX

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