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.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported ($1.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.66) by ($0.47). Analysts expect that Cidara Therapeutics will post -2.53 EPS for the current fiscal year.

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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Analyst Recommendations for Cidara Therapeutics (NASDAQ:CDTX)

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