Cidara Therapeutics, Inc. (CDTX) Receives Consensus Rating of “Buy” from Analysts
Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have been given an average rating of “Buy” by the twelve brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $14.36.
A number of equities analysts have commented on CDTX shares. Zacks Investment Research lowered shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Cantor Fitzgerald restated a “buy” rating and issued a $15.00 price target on shares of Cidara Therapeutics in a research report on Tuesday, September 26th. ValuEngine upgraded shares of Cidara Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, July 14th. Finally, WBB Securities upgraded shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, August 11th.
Cidara Therapeutics (NASDAQ CDTX) remained flat at $7.20 during midday trading on Thursday. 50,453 shares of the company traded hands. The stock has a 50 day moving average of $7.27 and a 200 day moving average of $7.07. Cidara Therapeutics has a 12-month low of $5.60 and a 12-month high of $11.85. The stock’s market cap is $121.41 million.
Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.99) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.91) by ($0.08). Analysts forecast that Cidara Therapeutics will post ($3.62) EPS for the current year.
In related news, CEO Jeffrey Stein bought 7,350 shares of Cidara Therapeutics stock in a transaction dated Tuesday, September 12th. The shares were bought at an average cost of $6.79 per share, for a total transaction of $49,906.50. Following the completion of the transaction, the chief executive officer now owns 51,851 shares of the company’s stock, valued at $352,068.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.90% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Broadfin Capital LLC lifted its position in shares of Cidara Therapeutics by 45.0% during the second quarter. Broadfin Capital LLC now owns 816,275 shares of the biotechnology company’s stock worth $6,122,000 after purchasing an additional 253,400 shares in the last quarter. Susquehanna International Group LLP acquired a new position in shares of Cidara Therapeutics during the second quarter worth approximately $350,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Cidara Therapeutics during the second quarter worth approximately $131,000. Goldman Sachs Group Inc. acquired a new position in shares of Cidara Therapeutics during the second quarter worth approximately $650,000. Finally, Citadel Advisors LLC acquired a new position in shares of Cidara Therapeutics during the second quarter worth approximately $129,000. Institutional investors own 66.10% of the company’s stock.
About Cidara Therapeutics
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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