Cidara Therapeutics, Inc. (NASDAQ:CDTX) Given Consensus Rating of “Buy” by Brokerages

Cidara Therapeutics, Inc. (NASDAQ:CDTX) has received a consensus recommendation of “Buy” from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $42.86.

CDTX has been the topic of a number of recent research reports. Wall Street Zen upgraded Cidara Therapeutics to a “sell” rating in a research note on Saturday, May 10th. HC Wainwright upgraded Cidara Therapeutics to a “buy” rating and set a $41.00 price target on the stock in a research note on Wednesday. Citizens Jmp started coverage on Cidara Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $46.00 price target on the stock. JMP Securities reiterated a “market outperform” rating and issued a $47.00 price target on shares of Cidara Therapeutics in a research note on Monday, June 2nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $35.00 price target (up previously from $31.00) on shares of Cidara Therapeutics in a research note on Friday, May 23rd.

Cidara Therapeutics Price Performance

Cidara Therapeutics stock opened at $21.02 on Friday. The stock’s fifty day moving average price is $22.20 and its two-hundred day moving average price is $21.99. Cidara Therapeutics has a one year low of $10.14 and a one year high of $28.42. The firm has a market cap of $263.80 million, a PE ratio of -0.71 and a beta of 0.79.

Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($1.66) EPS for the quarter, topping analysts’ consensus estimates of ($5.45) by $3.79. Sell-side analysts expect that Cidara Therapeutics will post -8.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cidara Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of CDTX. Point72 Asia Singapore Pte. Ltd. bought a new stake in Cidara Therapeutics during the 4th quarter worth $56,000. Point72 Asset Management L.P. bought a new stake in Cidara Therapeutics during the 4th quarter worth $165,000. American Century Companies Inc. bought a new stake in Cidara Therapeutics during the 1st quarter worth $224,000. West Michigan Advisors LLC bought a new stake in Cidara Therapeutics during the 1st quarter worth $291,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in Cidara Therapeutics during the 4th quarter worth $339,000. Institutional investors own 35.82% of the company’s stock.

About Cidara Therapeutics

Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes 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.