Cidara Therapeutics (NASDAQ:CDTX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

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 equities research analysts also recently issued reports on CDTX. Cantor Fitzgerald set a $15.00 target price on shares of Cidara Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, November 28th. HC Wainwright upped their target price on shares of Cidara Therapeutics from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $12.93.

Cidara Therapeutics (CDTX) traded down $0.05 during trading on Friday, hitting $7.55. 71,372 shares of the stock were exchanged, compared to its average volume of 83,711. The stock has a market cap of $154.82 and a P/E ratio of -2.23. Cidara Therapeutics has a twelve month low of $5.60 and a twelve month high of $11.75. The company has a quick ratio of 7.69, a current ratio of 7.69 and a debt-to-equity ratio of 0.16.

Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.21. equities research analysts forecast that Cidara Therapeutics will post -3.31 earnings per share for the current year.

In other Cidara Therapeutics news, major shareholder Target N. V. Biotech bought 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were purchased at an average cost of $7.57 per share, with a total value of $454,200.00. Following the purchase, the insider now directly owns 2,295,272 shares in the company, valued at $17,375,209.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 18.90% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC purchased a new stake in Cidara Therapeutics during the 2nd quarter worth approximately $129,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Cidara Therapeutics during the 2nd quarter worth approximately $131,000. OxFORD Asset Management LLP increased its stake in Cidara Therapeutics by 69.1% during the 3rd quarter. OxFORD Asset Management LLP now owns 22,181 shares of the biotechnology company’s stock worth $187,000 after buying an additional 9,065 shares during the period. JPMorgan Chase & Co. increased its stake in Cidara Therapeutics by 77.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 41,266 shares of the biotechnology company’s stock worth $328,000 after buying an additional 18,001 shares during the period. Finally, Susquehanna International Group LLP acquired a new position in Cidara Therapeutics during the 2nd quarter worth approximately $350,000. 55.45% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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