Cidara Therapeutics’ (CDTX) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a research report sent to investors on Tuesday morning, Benzinga reports.

Separately, HC Wainwright reissued a buy rating and issued a $6.00 target price on shares of Cidara Therapeutics in a research note on Monday, April 8th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cidara Therapeutics presently has a consensus rating of Moderate Buy and a consensus target price of $4.67.

Cidara Therapeutics Stock Performance

Shares of CDTX stock opened at $0.51 on Tuesday. The company’s fifty day simple moving average is $0.77 and its 200-day simple moving average is $0.77. Cidara Therapeutics has a 52 week low of $0.50 and a 52 week high of $1.48. The company has a market cap of $46.44 million, a PE ratio of -1.31 and a beta of 0.98.

Institutional Investors Weigh In On Cidara Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new stake in Cidara Therapeutics during the 3rd quarter worth $28,000. Pale Fire Capital SE purchased a new stake in Cidara Therapeutics during the 3rd quarter worth $51,000. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Cidara Therapeutics by 25.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock worth $75,000 after buying an additional 15,912 shares during the period. Hedge funds and other institutional investors own 35.82% of the company’s stock.

Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States. The company's lead product candidate is 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.