Cidara Therapeutics (NASDAQ:CDTX) Rating Reiterated by HC Wainwright

Cidara Therapeutics (NASDAQ:CDTX)‘s stock had its “buy” rating reissued by HC Wainwright in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $24.00 target price on the biotechnology company’s stock. HC Wainwright’s target price would indicate a potential upside of 106.36% from the company’s previous close.

Several other analysts also recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. Needham & Company LLC restated a “buy” rating and set a $25.00 price target on shares of Cidara Therapeutics in a report on Wednesday, August 14th. Finally, StockNews.com upgraded shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 13th. One equities 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 stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $29.67.

Cidara Therapeutics Stock Performance

Shares of NASDAQ:CDTX opened at $11.63 on Monday. The firm has a market capitalization of $53.06 million, a P/E ratio of -1.51 and a beta of 1.04. The stock has a 50 day moving average price of $12.17 and a 200-day moving average price of $13.21. Cidara Therapeutics has a 52-week low of $10.00 and a 52-week high of $24.40.

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

Institutional Trading of Cidara Therapeutics

An institutional investor recently raised its position in Cidara Therapeutics stock. Tocqueville Asset Management L.P. boosted its stake in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 approximately 3.57% of Cidara Therapeutics worth $150,000 at the end of the most recent quarter. 35.82% of the stock is currently 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.