WBB Securities Reiterates “Strong-Buy” Rating for Cidara Therapeutics (NASDAQ:CDTX)

Cidara Therapeutics (NASDAQ:CDTX)‘s stock had its “strong-buy” rating restated by investment analysts at WBB Securities in a report issued on Thursday, Benzinga reports. They presently have a $40.00 price objective on the biotechnology company’s stock. WBB Securities’ price objective would indicate a potential upside of 216.71% from the stock’s previous close.

Several other equities research analysts also recently issued reports on CDTX. Needham & Company LLC lifted their price objective on Cidara Therapeutics from $3.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday. Cantor Fitzgerald restated an “overweight” rating on shares of Cidara Therapeutics in a report on Tuesday. Finally, HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Cidara Therapeutics in a report on Monday, April 8th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $71.25.

Cidara Therapeutics Stock Performance

Shares of NASDAQ:CDTX opened at $12.63 on Thursday. The company has a market cap of $57.59 million, a P/E ratio of -2.63 and a beta of 0.98. Cidara Therapeutics has a one year low of $10.00 and a one year high of $29.60. The business’s 50-day simple moving average is $15.35 and its 200 day simple moving average is $15.31.

Institutional Investors Weigh In On Cidara Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Pale Fire Capital SE bought a new stake in shares of Cidara Therapeutics in the 3rd quarter valued at approximately $51,000. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Cidara Therapeutics by 25.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock valued at $75,000 after acquiring an additional 15,912 shares during the last quarter. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Cidara Therapeutics in the 3rd quarter valued at approximately $28,000. 35.82% of the stock is currently owned by institutional investors.

About Cidara Therapeutics

Cidara Therapeutics, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States. The company's lead product candidate is rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates.