Zacks Investment Research Lowers Cidara Therapeutics (CDTX) to Hold

Cidara Therapeutics (NASDAQ:CDTX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

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 downgraded Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, December 18th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $10.00.



Shares of CDTX stock traded down $0.05 on Monday, hitting $2.69. 21,094 shares of the stock were exchanged, compared to its average volume of 60,861. The company has a debt-to-equity ratio of 0.13, a quick ratio of 6.78 and a current ratio of 6.78. The company has a market capitalization of $74.65 million, a price-to-earnings ratio of -0.85 and a beta of 2.27. Cidara Therapeutics has a one year low of $1.94 and a one year high of $8.55.

Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings results on Thursday, November 8th. The biotechnology company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.11. Equities analysts predict that Cidara Therapeutics will post -2.27 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Cidara Therapeutics by 15.0% in the 3rd quarter. Vanguard Group Inc. now owns 660,485 shares of the biotechnology company’s stock worth $2,906,000 after purchasing an additional 85,979 shares during the period. Vanguard Group Inc boosted its stake in Cidara Therapeutics by 15.0% in the 3rd quarter. Vanguard Group Inc now owns 660,485 shares of the biotechnology company’s stock worth $2,906,000 after purchasing an additional 85,979 shares during the period. Stonepine Capital Management LLC boosted its stake in Cidara Therapeutics by 54.2% in the 3rd quarter. Stonepine Capital Management LLC now owns 656,148 shares of the biotechnology company’s stock worth $2,887,000 after purchasing an additional 230,617 shares during the period. Alethea Capital Management LLC boosted its stake in Cidara Therapeutics by 10.3% in the 4th quarter. Alethea Capital Management LLC now owns 482,357 shares of the biotechnology company’s stock worth $1,134,000 after purchasing an additional 45,000 shares during the period. Finally, Raymond James & Associates boosted its stake in Cidara Therapeutics by 38.2% in the 4th quarter. Raymond James & Associates now owns 331,351 shares of the biotechnology company’s stock worth $779,000 after purchasing an additional 91,553 shares during the period. Institutional investors and hedge funds own 65.52% of the company’s stock.

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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