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

Cidara Therapeutics (NASDAQ:CDTX)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They currently have a $24.00 target price on the biotechnology company’s stock. HC Wainwright’s price target indicates a potential upside of 113.90% from the company’s current price.

CDTX has been the topic of a number of other research reports. Needham & Company LLC reissued a “buy” rating and set a $25.00 target price on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. StockNews.com raised shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, September 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $29.67.

Cidara Therapeutics Price Performance

Shares of NASDAQ CDTX opened at $11.22 on Tuesday. The stock has a market cap of $51.19 million, a PE ratio of -1.46 and a beta of 1.03. The firm has a fifty day moving average price of $11.58 and a 200-day moving average price of $12.36. Cidara Therapeutics has a 1 year low of $10.00 and a 1 year high of $24.40.

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

Institutional Trading of Cidara Therapeutics

An institutional investor recently raised its position in Cidara Therapeutics stock. Tocqueville Asset Management L.P. increased its stake in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,000 shares of the biotechnology company’s stock after purchasing an additional 68,000 shares during the period. Tocqueville Asset Management L.P. owned 3.57% of Cidara Therapeutics worth $150,000 as of its most recent filing with the Securities & Exchange Commission. 35.82% of the stock is owned by institutional investors.

Cidara Therapeutics Company Profile

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.