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

Shares of Cidara Therapeutics Inc (NASDAQ:CDTX) have received an average rating of “Buy” from the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $14.28.

Several research analysts have recently issued reports on the stock. 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 Friday, January 19th. Zacks Investment Research downgraded shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, January 12th. Finally, HC Wainwright increased their price objective on shares of Cidara Therapeutics from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, November 9th.

A number of institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. bought a new position in Cidara Therapeutics in the second quarter worth approximately $650,000. JPMorgan Chase & Co. raised its position in Cidara Therapeutics by 77.4% in the third quarter. JPMorgan Chase & Co. now owns 41,266 shares of the biotechnology company’s stock worth $328,000 after acquiring an additional 18,001 shares during the period. OxFORD Asset Management LLP raised its position 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 worth $187,000 after acquiring an additional 9,065 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Cidara Therapeutics by 37.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 23,985 shares of the biotechnology company’s stock worth $194,000 after acquiring an additional 6,500 shares during the period. Finally, Renaissance Technologies LLC raised its position in Cidara Therapeutics by 26.2% in the fourth quarter. Renaissance Technologies LLC now owns 179,300 shares of the biotechnology company’s stock worth $1,219,000 after acquiring an additional 37,197 shares during the period. Institutional investors own 55.58% of the company’s stock.

Shares of Cidara Therapeutics (CDTX) traded up $0.15 during midday trading on Wednesday, hitting $6.65. 20,200 shares of the stock traded hands, compared to its average volume of 80,534. The company has a market capitalization of $134.58 and a P/E ratio of -1.96. Cidara Therapeutics has a 52-week low of $5.60 and a 52-week high of $11.75. The company has a current ratio of 7.69, a quick ratio of 7.69 and a debt-to-equity ratio of 0.16.

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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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