Cidara Therapeutics, Inc. (NASDAQ:CDTX) Given Average Recommendation of “Hold” by Brokerages

Cidara Therapeutics, Inc. (NASDAQ:CDTX) has been given a consensus rating of “Hold” by the twelve ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $156.1111.

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada lowered Cidara Therapeutics from an “outperform” rating to a “sector perform” rating in a research note on Monday, November 17th. HC Wainwright lowered Cidara Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, November 14th. WBB Securities lifted their target price on Cidara Therapeutics from $123.00 to $199.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 9th. Needham & Company LLC lowered Cidara Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, November 14th. Finally, Citigroup reiterated a “market outperform” rating on shares of Cidara Therapeutics in a report on Tuesday, October 21st.

Cidara Therapeutics Stock Up 0.0%

CDTX stock opened at $221.38 on Friday. The stock has a market capitalization of $6.96 billion, a PE ratio of -18.79 and a beta of 1.52. Cidara Therapeutics has a 52 week low of $15.22 and a 52 week high of $221.42. The firm has a 50 day moving average of $220.77 and a 200 day moving average of $134.96.

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

Insider Activity

In related news, COO Shane Ward sold 9,959 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $220.08, for a total transaction of $2,191,776.72. Following the completion of the transaction, the chief operating officer directly owned 25,033 shares in the company, valued at $5,509,262.64. The trade was a 28.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CDTX. Bain Capital Life Sciences Investors LLC boosted its position in 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 worth $121,808,000 after purchasing an additional 1,797,600 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Cidara Therapeutics by 63.1% in the 4th quarter. Vanguard Group Inc. now owns 2,007,193 shares of the biotechnology company’s stock valued at $443,369,000 after purchasing an additional 776,527 shares during the period. Vivo Capital LLC boosted its holdings in Cidara Therapeutics by 91.7% during the second quarter. Vivo Capital LLC now owns 1,311,425 shares of the biotechnology company’s stock worth $63,880,000 after buying an additional 627,149 shares in the last quarter. Commodore Capital LP acquired a new stake in Cidara Therapeutics during the second quarter valued at $57,234,000. Finally, Adage Capital Partners GP L.L.C. grew its position in 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 buying an additional 110,000 shares during the period. 35.82% of the stock is owned by institutional investors and hedge funds.

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.