Cidara Therapeutics Inc (NASDAQ:CDTX) Receives $6.65 Consensus PT from Brokerages

Cidara Therapeutics Inc (NASDAQ:CDTX) has earned an average rating of “Buy” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $6.65.

Several research analysts have commented on CDTX shares. Needham & Company LLC started coverage on shares of Cidara Therapeutics in a research report on Friday, August 14th. They set a “buy” rating and a $6.00 price objective for the company. ValuEngine downgraded shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, July 2nd. Zacks Investment Research downgraded shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, October 12th. Maxim Group reiterated a “buy” rating and set a $10.00 price target on shares of Cidara Therapeutics in a report on Friday, August 14th. Finally, Citigroup lowered their price target on shares of Cidara Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, August 26th.

Shares of CDTX opened at $2.65 on Tuesday. Cidara Therapeutics has a one year low of $1.30 and a one year high of $4.45. The company has a market cap of $113.84 million, a P/E ratio of -2.12 and a beta of 1.84. The firm has a 50 day simple moving average of $3.03 and a two-hundred day simple moving average of $3.37.

Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings data on Thursday, August 13th. The biotechnology company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.17). Cidara Therapeutics had a negative net margin of 173.61% and a negative return on equity of 102.45%. The firm had revenue of $3.39 million for the quarter, compared to analyst estimates of $16.15 million. Equities analysts expect that Cidara Therapeutics will post -1.72 earnings per share for the current year.

Several institutional investors have recently modified their holdings of CDTX. Artal Group S.A. purchased a new stake in Cidara Therapeutics in the 2nd quarter valued at about $873,000. Nuveen Asset Management LLC purchased a new stake in Cidara Therapeutics in the 2nd quarter valued at about $602,000. Alethea Capital Management LLC increased its stake in Cidara Therapeutics by 14.9% in the 2nd quarter. Alethea Capital Management LLC now owns 1,028,389 shares of the biotechnology company’s stock valued at $3,795,000 after buying an additional 133,534 shares during the last quarter. UBS Group AG increased its stake in Cidara Therapeutics by 304.9% in the 2nd quarter. UBS Group AG now owns 141,075 shares of the biotechnology company’s stock valued at $520,000 after buying an additional 106,230 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Cidara Therapeutics by 86.9% in the 1st quarter. Geode Capital Management LLC now owns 220,009 shares of the biotechnology company’s stock valued at $545,000 after buying an additional 102,271 shares during the last quarter. 58.59% of the stock is currently owned by 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.

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Analyst Recommendations for Cidara Therapeutics (NASDAQ:CDTX)

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