Cidara Therapeutics (NASDAQ:CDTX) Stock Rating Upgraded by Zacks Investment Research

Cidara Therapeutics (NASDAQ:CDTX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The brokerage presently has a $1.50 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 14.50% from the company’s previous close.

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. “

Several other equities analysts have also weighed in on the stock. Wedbush lowered shares of Cidara Therapeutics from an “outperform” rating to a “neutral” rating and set a $2.00 price objective on the stock. in a research report on Friday, May 17th. ValuEngine raised shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Cantor Fitzgerald dropped their price objective on shares of Cidara Therapeutics from $15.00 to $8.00 and set a “reduce” rating on the stock in a research report on Wednesday, June 12th. Finally, Oppenheimer started coverage on shares of Cidara Therapeutics in a research report on Wednesday, June 5th. They issued an “outperform” rating and a $6.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $4.38.



Shares of CDTX traded down $0.01 during trading hours on Tuesday, hitting $1.31. The company had a trading volume of 83,194 shares, compared to its average volume of 118,990. The stock has a market capitalization of $34.53 million, a price-to-earnings ratio of -0.56 and a beta of 2.18. The stock has a fifty day moving average price of $1.56. Cidara Therapeutics has a 12 month low of $1.23 and a 12 month high of $4.95. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.19 and a current ratio of 3.19.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.49) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.55) by $0.06. On average, sell-side analysts forecast that Cidara Therapeutics will post -2.22 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in CDTX. Renaissance Technologies LLC grew its stake in Cidara Therapeutics by 53.9% during the second quarter. Renaissance Technologies LLC now owns 610,742 shares of the biotechnology company’s stock worth $1,026,000 after buying an additional 214,010 shares in the last quarter. West Family Investments Inc. grew its stake in 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 buying an additional 88,128 shares in the last quarter. Alethea Capital Management LLC grew its stake in 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 buying an additional 81,956 shares in the last quarter. Two Sigma Investments LP grew its stake in 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 buying an additional 14,421 shares in the last quarter. Finally, BlackRock Inc. grew its stake in 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 buying an additional 5,563 shares in the last quarter. Institutional investors and hedge funds own 59.68% of the company’s stock.

Cidara Therapeutics Company Profile

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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