Cidara Therapeutics (NASDAQ:CDTX) Earns Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a report issued on Tuesday morning, Benzinga reports. They currently have a $24.00 price objective on the biotechnology company’s stock.

Several other analysts have also recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $25.00 target price on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. Cantor Fitzgerald restated an “overweight” rating on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. Finally, StockNews.com upgraded shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, September 13th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cidara Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $29.67.

Cidara Therapeutics Stock Down 1.2 %

Shares of CDTX stock opened at $11.16 on Tuesday. The stock has a market cap of $50.91 million, a P/E ratio of -1.45 and a beta of 1.03. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $24.40. The company’s fifty day simple moving average is $11.51 and its two-hundred day simple moving average is $12.26.

Cidara Therapeutics (NASDAQ:CDTX) last announced its earnings results on Tuesday, August 13th. The biotechnology company reported ($2.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.94) by $1.89. The firm had revenue of $0.30 million for the quarter. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 109.89%. On average, analysts anticipate that Cidara Therapeutics will post -12.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Cidara Therapeutics

An institutional investor recently raised its position in Cidara Therapeutics stock. Tocqueville Asset Management L.P. boosted its position in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 163,000 shares of the biotechnology company’s stock after purchasing an additional 68,000 shares during the period. Tocqueville Asset Management L.P. owned about 3.57% of Cidara Therapeutics worth $150,000 as of its most recent SEC filing. Institutional investors and hedge funds own 35.82% of the company’s stock.

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.