Cidara Therapeutics (NASDAQ:CDTX) Given a $10.00 Price Target at Needham & Company LLC

Needham & Company LLC set a $10.00 price target on Cidara Therapeutics (NASDAQ:CDTX) in a report issued on Monday, TipRanks reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

Other equities analysts have also issued reports about the company. Oppenheimer began coverage on Cidara Therapeutics in a research note on Wednesday, June 5th. They set an outperform rating and a $6.00 price target for the company. ValuEngine raised Cidara Therapeutics from a sell rating to a hold rating in a research note on Thursday, August 1st. Zacks Investment Research raised Cidara Therapeutics from a hold rating to a buy rating and set a $1.50 price target for the company in a research note on Tuesday. Wedbush lowered Cidara Therapeutics from an outperform rating to a neutral rating and set a $2.00 price target for the company. in a research note on Friday, May 17th. Finally, Cantor Fitzgerald dropped their price target on Cidara Therapeutics from $15.00 to $8.00 and set a reduce rating for the company in a research note on Wednesday, June 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $5.50.

Cidara Therapeutics stock traded up $0.01 during midday trading on Monday, reaching $1.32. 13,526 shares of the stock traded hands, compared to its average volume of 118,314. The business’s fifty day moving average price is $1.55. Cidara Therapeutics has a 12 month low of $1.23 and a 12 month high of $4.95. The company has a market cap of $35.49 million, a PE ratio of -0.56 and a beta of 2.18. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.04.



Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.06. As a group, research analysts predict that Cidara Therapeutics will post -2.22 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its holdings in Cidara Therapeutics by 53.9% in the second quarter. Renaissance Technologies LLC now owns 610,742 shares of the biotechnology company’s stock worth $1,026,000 after acquiring an additional 214,010 shares in the last quarter. West Family Investments Inc. grew its position in shares of Cidara Therapeutics by 41.6% during the second quarter. West Family Investments Inc. now owns 300,000 shares of the biotechnology company’s stock worth $504,000 after purchasing an additional 88,128 shares in the last quarter. Alethea Capital Management LLC grew its position in shares of Cidara Therapeutics by 17.0% during the first quarter. Alethea Capital Management LLC now owns 564,313 shares of the biotechnology company’s stock worth $1,495,000 after purchasing an additional 81,956 shares in the last quarter. Two Sigma Investments LP grew its position in shares of Cidara Therapeutics by 96.6% during the fourth quarter. Two Sigma Investments LP now owns 29,349 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 14,421 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of Cidara Therapeutics by 1.9% during the fourth quarter. BlackRock Inc. now owns 291,512 shares of the biotechnology company’s stock worth $685,000 after purchasing an additional 5,563 shares in the last quarter. 59.68% of the stock is owned by institutional investors and hedge funds.

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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