Cidara Therapeutics Inc (CDTX) Receives Consensus Rating of “Buy” from Brokerages
Cidara Therapeutics Inc (NASDAQ:CDTX) has earned a consensus recommendation of “Buy” from the seven analysts that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $13.25.
CDTX has been the topic of a number of recent research reports. Cantor Fitzgerald set a $15.00 target price on shares of Cidara Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, September 4th. Zacks Investment Research upgraded shares of Cidara Therapeutics from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Tuesday, July 24th. Citigroup initiated coverage on shares of Cidara Therapeutics in a research note on Wednesday, July 25th. They set a “buy” rating and a $8.00 target price on the stock. ValuEngine upgraded shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th. Finally, Needham & Company LLC set a $14.00 target price on shares of Cidara Therapeutics and gave the stock a “buy” rating in a research note on Thursday, August 9th.
NASDAQ:CDTX traded down $0.15 on Monday, reaching $3.99. 73,629 shares of the company’s stock were exchanged, compared to its average volume of 158,453. The company has a debt-to-equity ratio of 0.12, a current ratio of 7.11 and a quick ratio of 7.11. The firm has a market capitalization of $121.78 million, a PE ratio of -1.25 and a beta of 1.97. Cidara Therapeutics has a 52-week low of $3.65 and a 52-week high of $8.80.
Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Cidara Therapeutics by 265.0% in the first quarter. BlackRock Inc. now owns 249,540 shares of the biotechnology company’s stock worth $998,000 after acquiring an additional 181,177 shares in the last quarter. Granahan Investment Management Inc. MA purchased a new position in shares of Cidara Therapeutics in the second quarter valued at $2,371,000. Opaleye Management Inc. purchased a new position in shares of Cidara Therapeutics in the second quarter valued at $6,240,000. Stonepine Capital Management LLC purchased a new position in shares of Cidara Therapeutics in the second quarter valued at $2,213,000. Finally, Omega Fund Management LLC boosted its stake in shares of Cidara Therapeutics by 239.1% during the second quarter. Omega Fund Management LLC now owns 1,508,794 shares of the biotechnology company’s stock valued at $7,846,000 after acquiring an additional 1,063,829 shares during the last quarter. 67.14% of the stock is owned by hedge funds and other 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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