Cidara Therapeutics (NASDAQ:CDTX) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Cidara Therapeutics (NASDAQ:CDTX) from a sell rating to a hold rating in a research report report published on Friday.

CDTX has been the subject of a number of other research reports. HC Wainwright upgraded shares of Cidara Therapeutics from a neutral rating to a buy rating and set a $24.00 target price for the company in a research report on Wednesday, August 14th. Cantor Fitzgerald restated an overweight rating on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. Finally, Needham & Company LLC restated a buy rating and set a $25.00 price objective on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cidara Therapeutics presently has an average rating of Buy and a consensus target price of $29.67.

Cidara Therapeutics Stock Performance

Shares of NASDAQ:CDTX opened at $11.80 on Friday. The stock has a market capitalization of $83.07 million, a price-to-earnings ratio of -1.54 and a beta of 1.04. Cidara Therapeutics has a 1-year low of $10.00 and a 1-year high of $24.40. The company’s fifty day moving average is $12.17 and its two-hundred day moving average is $13.22.

Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings data on Tuesday, August 13th. The biotechnology company reported ($2.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.94) by $1.89. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 109.89%. The business had revenue of $0.30 million for the quarter. Sell-side analysts expect that Cidara Therapeutics will post -12.06 EPS for the current fiscal year.

Institutional Trading of Cidara Therapeutics

An institutional investor recently raised its position in Cidara Therapeutics stock. Tocqueville Asset Management L.P. grew its position in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 163,000 shares of the biotechnology company’s stock after purchasing an additional 68,000 shares during the quarter. Tocqueville Asset Management L.P. owned approximately 3.57% of Cidara Therapeutics worth $150,000 as of its most recent SEC filing. 35.82% of the stock is owned by institutional investors.

About Cidara Therapeutics

Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes 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.