Cidara Therapeutics, Inc. (NASDAQ:CDTX) Receives Average Rating of “Hold” from Brokerages

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have earned a consensus recommendation of “Hold” from the twelve analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $156.1111.

CDTX has been the subject of a number of recent research reports. WBB Securities raised their target price on Cidara Therapeutics from $123.00 to $199.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. cut shares of Cidara Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, November 17th. Wall Street Zen cut shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Needham & Company LLC downgraded shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, November 14th. Finally, JMP Securities set a $173.00 target price on shares of Cidara Therapeutics and gave the stock a “market outperform” rating in a research note on Friday, October 3rd.

Cidara Therapeutics Price Performance

Shares of Cidara Therapeutics stock opened at $221.38 on Wednesday. The stock’s 50 day simple moving average is $192.35 and its 200-day simple moving average is $113.75. The stock has a market cap of $6.96 billion, a P/E ratio of -18.79 and a beta of 1.52. Cidara Therapeutics has a 1-year low of $15.22 and a 1-year high of $221.42.

Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($1.19) by ($0.24). As a group, research analysts expect that Cidara Therapeutics will post -8.74 EPS for the current fiscal year.

Insider Activity at Cidara Therapeutics

In related news, COO Shane Ward sold 9,959 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $220.08, for a total value of $2,191,776.72. Following the transaction, the chief operating officer directly owned 25,033 shares in the company, valued at approximately $5,509,262.64. This represents a 28.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.64% of the company’s stock.

Institutional Investors Weigh In On Cidara Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDTX. Bain Capital Life Sciences Investors LLC lifted its stake in shares of Cidara Therapeutics by 255.7% in the 2nd quarter. Bain Capital Life Sciences Investors LLC now owns 2,500,680 shares of the biotechnology company’s stock valued at $121,808,000 after purchasing an additional 1,797,600 shares during the last quarter. Vivo Capital LLC raised its holdings in Cidara Therapeutics by 91.7% in the 2nd quarter. Vivo Capital LLC now owns 1,311,425 shares of the biotechnology company’s stock valued at $63,880,000 after buying an additional 627,149 shares during the period. Vanguard Group Inc. lifted its position in Cidara Therapeutics by 27.3% in the third quarter. Vanguard Group Inc. now owns 1,230,666 shares of the biotechnology company’s stock valued at $117,849,000 after buying an additional 263,961 shares during the last quarter. Commodore Capital LP purchased a new position in Cidara Therapeutics during the second quarter worth about $57,234,000. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Cidara Therapeutics by 11.1% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,100,000 shares of the biotechnology company’s stock valued at $53,581,000 after acquiring an additional 110,000 shares during the last quarter. Hedge funds and other institutional investors own 35.82% of the company’s stock.

Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc is a clinical‐stage biotechnology company focused on the discovery and development of long‐acting anti‐infectives and immunotherapies to address life‐threatening fungal, viral and bacterial infections. The company’s core technology platforms, including its proprietary CD‐MONT and Cloudbreak platforms, are designed to create novel therapeutic candidates with extended half‐lives and differentiated mechanisms of action. By leveraging its expertise in macromolecular conjugates and immunotherapeutic design, Cidara seeks to offer new treatment options that can reduce dosing frequency and improve patient outcomes in critical care settings.

The company’s lead asset, rezafungin, is a once‐weekly intravenous echinocandin antifungal in late‐stage development for the prevention and treatment of invasive candidiasis and other serious fungal infections.