Cidara Therapeutics, Inc. (CDTX) Receives Consensus Recommendation of “Buy” from Analysts

Cidara Therapeutics, Inc. (NASDAQ:CDTX) has received an average recommendation of “Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $14.00.

CDTX has been the subject of a number of recent research reports. Cantor Fitzgerald set a $15.00 price objective on Cidara Therapeutics and gave the stock a “buy” rating in a report on Thursday, August 10th. WBB Securities raised Cidara Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research lowered Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, August 14th. ValuEngine lowered Cidara Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Finally, HC Wainwright upped their target price on Cidara Therapeutics from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, November 9th.

In other Cidara Therapeutics news, CEO Jeffrey Stein bought 7,350 shares of Cidara Therapeutics stock in a transaction dated Tuesday, September 12th. The stock was bought at an average cost of $6.79 per share, with a total value of $49,906.50. Following the completion of the acquisition, the chief executive officer now directly owns 51,851 shares in the company, valued at approximately $352,068.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Target N. V. Biotech bought 60,000 shares of Cidara Therapeutics stock in a transaction dated Wednesday, November 15th. The stock was acquired at an average cost of $7.57 per share, with a total value of $454,200.00. Following the completion of the acquisition, the insider now owns 2,295,272 shares of the company’s stock, valued at $17,375,209.04. The disclosure for this purchase can be found here. Corporate insiders own 18.90% of the company’s stock.

A number of institutional investors have recently bought and sold shares of CDTX. Trexquant Investment LP purchased a new position in Cidara Therapeutics in the second quarter valued at approximately $110,000. Citadel Advisors LLC purchased a new position in Cidara Therapeutics in the second quarter valued at approximately $129,000. Raymond James Financial Services Advisors Inc. purchased a new position in Cidara Therapeutics in the second quarter valued at approximately $131,000. OxFORD Asset Management LLP lifted its stake in Cidara Therapeutics by 69.1% in the third quarter. OxFORD Asset Management LLP now owns 22,181 shares of the biotechnology company’s stock valued at $187,000 after purchasing an additional 9,065 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Cidara Therapeutics by 455.6% in the first quarter. JPMorgan Chase & Co. now owns 25,639 shares of the biotechnology company’s stock valued at $200,000 after purchasing an additional 21,024 shares during the last quarter. Institutional investors and hedge funds own 55.45% of the company’s stock.

Shares of Cidara Therapeutics (NASDAQ:CDTX) traded up $0.10 on Friday, reaching $8.00. The company’s stock had a trading volume of 57,982 shares, compared to its average volume of 104,597. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.69 and a quick ratio of 7.69. Cidara Therapeutics has a 1 year low of $5.60 and a 1 year high of $11.75.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.21. analysts expect that Cidara Therapeutics will post -3.31 EPS for the current year.

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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.

Analyst Recommendations for Cidara Therapeutics (NASDAQ:CDTX)

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