Somewhat Critical News Coverage Somewhat Unlikely to Affect Cidara Therapeutics (CDTX) Stock Price

Press coverage about Cidara Therapeutics (NASDAQ:CDTX) has been trending somewhat negative this week, according to Accern Sentiment Analysis. Accern identifies negative and positive press coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Cidara Therapeutics earned a media sentiment score of -0.02 on Accern’s scale. Accern also gave media stories about the biotechnology company an impact score of 46.9766894244975 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.

Here are some of the media stories that may have impacted Accern Sentiment Analysis’s rankings:

Several equities analysts have commented on CDTX shares. Cantor Fitzgerald set a $15.00 price objective on Cidara Therapeutics and gave the company a “buy” rating in a research report on Thursday, May 10th. WBB Securities raised Cidara Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, May 23rd. Zacks Investment Research raised Cidara Therapeutics from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a research report on Tuesday, July 24th. Citigroup started coverage on Cidara Therapeutics in a research report on Wednesday, July 25th. They issued a “buy” rating and a $8.00 price objective on the stock. Finally, Needham & Company LLC set a $14.00 price objective on Cidara Therapeutics and gave the company a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $11.60.

Shares of Cidara Therapeutics traded up $0.20, reaching $4.55, during midday trading on Friday, according to Marketbeat. 168,142 shares of the stock were exchanged, compared to its average volume of 95,646. Cidara Therapeutics has a 52 week low of $3.65 and a 52 week high of $8.80. The company has a current ratio of 5.99, a quick ratio of 5.99 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $120.40 million, a price-to-earnings ratio of -1.43 and a beta of 1.99.

Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.47). equities research analysts predict that Cidara Therapeutics will post -2.47 EPS for the current year.

In other news, CEO Jeffrey Stein purchased 212,766 shares of the company’s stock in a transaction dated Wednesday, May 23rd. The shares were acquired at an average price of $4.70 per share, with a total value of $1,000,000.20. The transaction was disclosed in a filing with the SEC, which is available at this link. 15.20% of the stock is currently owned by corporate insiders.

About Cidara Therapeutics

Cidara Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of anti-infectives for the treatment of diseases. Its lead product candidate is rezafungin acetate, a molecule in the echinocandin class of antifungals for the treatment and prevention of serious invasive fungal infections, including candidemia and invasive candidiasis, fungal infections associated with high mortality rates.

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