Cidara Therapeutics (NASDAQ:CDTX) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a research note published on Monday,Benzinga reports. HC Wainwright currently has a $24.00 price objective on the biotechnology company’s stock.

CDTX has been the subject of several other reports. Guggenheim assumed coverage on Cidara Therapeutics in a report on Friday. They set a “buy” rating and a $33.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $25.00 target price on shares of Cidara Therapeutics in a report on Wednesday, August 14th. StockNews.com upgraded Cidara Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 13th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Cidara Therapeutics in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

Cidara Therapeutics Trading Down 1.1 %

Shares of NASDAQ:CDTX opened at $13.35 on Monday. Cidara Therapeutics has a 1 year low of $10.00 and a 1 year high of $24.40. The business has a fifty day simple moving average of $11.58 and a 200 day simple moving average of $12.06. The firm has a market cap of $93.98 million, a price-to-earnings ratio of -0.52 and a beta of 0.99.

Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings data on Tuesday, August 13th. The biotechnology company reported ($2.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.94) by $1.89. Cidara Therapeutics had a negative return on equity of 109.77% and a negative net margin of 289.05%. The business had revenue of $0.30 million during the quarter. On average, sell-side analysts forecast that Cidara Therapeutics will post -12.06 EPS for the current year.

Institutional Investors Weigh In On Cidara Therapeutics

A hedge fund recently raised its stake in Cidara Therapeutics stock. Tocqueville Asset Management L.P. grew its holdings in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund 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 about 3.57% of Cidara Therapeutics worth $150,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 35.82% of the company’s stock.

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.