Cidara Therapeutics (CDTX) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Cidara Therapeutics (NASDAQ:CDTX) from a hold rating to a buy rating in a research note released on Friday morning. They currently have $3.00 target price on the biotechnology company’s stock.

According to Zacks, “Cidara Therapeutics, Inc. is a biotechnology company. The company is focused on the discovery, development and commercialization of novel anti-infectives. Its product pipeline includes CD101 IV, a long-acting echinocandin antifungal, CD101 topical and C001 which are in different clinical trial. The company developed its product using Cloudbreak(TM) immunotherapy platform. Cidara Therapeutics, Inc. is headquartered in San Diego, California. “

Separately, ValuEngine raised Cidara Therapeutics from a sell rating to a hold rating in a research report on Wednesday, January 2nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $10.00.



Shares of CDTX opened at $2.74 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.78 and a quick ratio of 6.78. Cidara Therapeutics has a 52 week low of $1.94 and a 52 week high of $8.55.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings results on Thursday, November 8th. The biotechnology company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.11. As a group, sell-side analysts anticipate that Cidara Therapeutics will post -2.27 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its position in Cidara Therapeutics by 22.9% in the 2nd quarter. BlackRock Inc. now owns 306,678 shares of the biotechnology company’s stock valued at $1,594,000 after acquiring an additional 57,138 shares in the last quarter. Renaissance Technologies LLC lifted its position in Cidara Therapeutics by 9.0% in the 2nd quarter. Renaissance Technologies LLC now owns 285,300 shares of the biotechnology company’s stock valued at $1,484,000 after acquiring an additional 23,600 shares in the last quarter. Raymond James & Associates lifted its position in Cidara Therapeutics by 104.1% in the 2nd quarter. Raymond James & Associates now owns 195,878 shares of the biotechnology company’s stock valued at $1,019,000 after acquiring an additional 99,927 shares in the last quarter. Alethea Capital Management LLC lifted its position in Cidara Therapeutics by 300.9% in the 3rd quarter. Alethea Capital Management LLC now owns 437,357 shares of the biotechnology company’s stock valued at $1,924,000 after acquiring an additional 328,263 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Cidara Therapeutics by 88.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 149,050 shares of the biotechnology company’s stock valued at $656,000 after acquiring an additional 69,998 shares in the last quarter. 65.52% of the stock is currently owned by hedge funds and other institutional investors.

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.

Read More: Does the Step Transaction Doctrine Affect a Backdoor Roth IRA?

Get a free copy of the Zacks research report on Cidara Therapeutics (CDTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Cidara Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cidara Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply