Cidara Therapeutics Inc (CDTX) Receives Average Recommendation of “Buy” from Brokerages

Shares of Cidara Therapeutics Inc (NASDAQ:CDTX) have been assigned a consensus recommendation of “Buy” from the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $14.28.

CDTX has been the subject of a number of recent analyst reports. Zacks Investment Research raised Cidara Therapeutics from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a report on Wednesday, October 25th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $15.00 price target on shares of Cidara Therapeutics in a report on Tuesday, September 26th. Finally, HC Wainwright raised their price target 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 news, major shareholder Target N. V. Biotech bought 60,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was bought at an average cost of $7.57 per share, with a total value of $454,200.00. Following the purchase, the insider now owns 2,295,272 shares of the company’s stock, valued at $17,375,209.04. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 18.90% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDTX. Citadel Advisors LLC acquired a new stake in shares of Cidara Therapeutics in the 2nd quarter valued at $129,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Cidara Therapeutics in the 2nd quarter valued at $131,000. OxFORD Asset Management LLP boosted its position in shares of Cidara Therapeutics by 69.1% in the 3rd quarter. OxFORD Asset Management LLP now owns 22,181 shares of the biotechnology company’s stock worth $187,000 after purchasing an additional 9,065 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Cidara Therapeutics by 77.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 41,266 shares of the biotechnology company’s stock worth $328,000 after purchasing an additional 18,001 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new position in shares of Cidara Therapeutics in the 2nd quarter worth $350,000. 55.45% of the stock is owned by institutional investors.

Cidara Therapeutics (CDTX) traded up $0.10 during mid-day trading on Friday, reaching $7.30. The company had a trading volume of 61,381 shares, compared to its average volume of 76,052. Cidara Therapeutics has a 12-month low of $5.60 and a 12-month high of $11.75. The firm has a market cap of $145.71, a PE ratio of -2.15 and a beta of 1.79. 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 (NASDAQ:CDTX) last released its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.73) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.94) by $0.21. equities research analysts forecast that Cidara Therapeutics will post -3.31 earnings per share for the current year.

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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.

Analyst Recommendations for Cidara Therapeutics (NASDAQ:CDTX)

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