Cidara Therapeutics (NASDAQ:CDTX) Receives “Strong-Buy” Rating from WBB Securities

WBB Securities reiterated their strong-buy rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a research note released on Monday,Benzinga reports. WBB Securities currently has a $45.00 price target on the biotechnology company’s stock.

Several other equities analysts have also issued reports on the company. Citigroup assumed coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They issued an “outperform” rating for the company. HC Wainwright upgraded shares of Cidara Therapeutics to a “buy” rating and set a $41.00 price objective for the company in a research note on Wednesday, June 18th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cidara Therapeutics in a report on Tuesday, June 10th. JMP Securities reissued a “market outperform” rating and set a $47.00 price target on shares of Cidara Therapeutics in a research report on Monday, June 2nd. Finally, Citizens Jmp started coverage on Cidara Therapeutics in a research note on Wednesday, March 12th. They set an “outperform” rating and a $46.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.43.

Cidara Therapeutics Stock Performance

CDTX stock opened at $44.95 on Monday. The firm has a 50 day moving average price of $22.73 and a 200-day moving average price of $22.17. Cidara Therapeutics has a 52-week low of $10.14 and a 52-week high of $45.39. The firm has a market capitalization of $564.12 million, a price-to-earnings ratio of -1.53 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) earnings per share for the quarter, beating analysts’ consensus estimates of ($5.45) by $3.79. As a group, sell-side analysts forecast that Cidara Therapeutics will post -8.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cidara Therapeutics

Institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cidara Therapeutics in the fourth quarter worth approximately $56,000. Point72 Asset Management L.P. purchased a new position in Cidara Therapeutics in the 4th quarter worth approximately $165,000. American Century Companies Inc. purchased a new stake in Cidara Therapeutics during the 1st quarter valued at approximately $224,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Cidara Therapeutics during the fourth quarter valued at approximately $339,000. Finally, Jane Street Group LLC purchased a new position in shares of Cidara Therapeutics in the fourth quarter worth $342,000. 35.82% of the stock is owned by institutional investors.

Cidara Therapeutics Company Profile

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.