Brokerages Set Cidara Therapeutics, Inc. (NASDAQ:CDTX) Target Price at $71.25

Cidara Therapeutics, Inc. (NASDAQ:CDTX) has received an average recommendation of “Buy” from the four research firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $71.25.

A number of research firms have recently commented on CDTX. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cidara Therapeutics in a report on Tuesday, April 23rd. Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price on shares of Cidara Therapeutics in a research report on Thursday, May 16th. WBB Securities restated a “strong-buy” rating and issued a $40.00 price target on shares of Cidara Therapeutics in a research report on Thursday, April 25th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $120.00 price objective on shares of Cidara Therapeutics in a research note on Monday, April 8th.

Cidara Therapeutics Stock Performance

Shares of CDTX opened at $12.34 on Monday. The company has a 50-day simple moving average of $14.73 and a 200-day simple moving average of $14.65. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $29.60. The firm has a market capitalization of $56.27 million, a P/E ratio of -1.61 and a beta of 1.11.

Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings data on Monday, April 22nd. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter. The firm had revenue of $17.58 million for the quarter. Cidara Therapeutics had a negative net margin of 73.46% and a negative return on equity of 201.62%. As a group, equities analysts forecast that Cidara Therapeutics will post -13.07 earnings per share for the current year.

Hedge Funds Weigh In On Cidara Therapeutics

A number of large investors have recently modified their holdings of the stock. Tocqueville Asset Management L.P. boosted its position in Cidara Therapeutics by 71.6% in the 1st quarter. Tocqueville Asset Management L.P. now owns 163,000 shares of the biotechnology company’s stock valued at $150,000 after buying an additional 68,000 shares during the last quarter. Pale Fire Capital SE bought a new position in Cidara Therapeutics in the third quarter valued at about $51,000. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Cidara Therapeutics by 25.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 15,912 shares during the last quarter. 35.82% of the stock is currently owned by institutional investors and hedge funds.

Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States. The company's lead product candidate is rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates.