Cidara Therapeutics (NASDAQ:CDTX) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Cidara Therapeutics (NASDAQ:CDTX) from a hold rating to a sell rating in a report published on Monday morning.

CDTX has been the topic of a number of other reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. HC Wainwright reissued a “buy” rating and issued a $24.00 price objective on shares of Cidara Therapeutics in a research note on Monday. Finally, Guggenheim initiated coverage on Cidara Therapeutics in a research note on Friday, November 8th. They issued a “buy” rating and a $33.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cidara Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $30.50.

Cidara Therapeutics Trading Up 3.3 %

NASDAQ CDTX opened at $13.90 on Monday. The firm has a market capitalization of $97.95 million, a PE ratio of -0.54 and a beta of 0.99. The business’s 50-day moving average price is $11.67 and its two-hundred day moving average price is $12.08. Cidara Therapeutics has a 12 month low of $10.00 and a 12 month high of $24.40.

Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings data on Tuesday, August 13th. The biotechnology company reported ($2.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.94) by $1.89. The company had revenue of $0.30 million for the quarter. Cidara Therapeutics had a negative return on equity of 69.64% and a negative net margin of 289.05%. As a group, analysts forecast that Cidara Therapeutics will post -12.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cidara Therapeutics stock. Tocqueville Asset Management L.P. increased its position in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 163,000 shares of the biotechnology company’s stock after buying an additional 68,000 shares during the quarter. Tocqueville Asset Management L.P. owned about 3.57% of Cidara Therapeutics worth $150,000 at the end of the most recent quarter. 35.82% of the stock is owned by institutional investors.

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.