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 sent to investors on Friday.

Several other equities research analysts also recently issued reports on the stock. Needham & Company LLC reiterated a buy rating and set a $25.00 price objective on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. Cantor Fitzgerald reiterated an overweight rating on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. Finally, 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 note on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Cidara Therapeutics has a consensus rating of Buy and a consensus target price of $29.67.

Cidara Therapeutics Stock Performance

Cidara Therapeutics stock opened at $11.80 on Friday. Cidara Therapeutics has a 1 year low of $10.00 and a 1 year high of $24.40. The firm has a 50 day moving average price of $12.17 and a 200 day moving average price of $13.22. The company has a market cap of $83.07 million, a price-to-earnings ratio of -1.54 and a beta of 1.04.

Cidara Therapeutics (NASDAQ:CDTX) last released 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 net margin of 289.05% and a negative return on equity of 109.89%. The company had revenue of $0.30 million during the quarter. Sell-side analysts predict that Cidara Therapeutics will post -12.06 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Cidara Therapeutics stock. Tocqueville Asset Management L.P. boosted its stake in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,000 shares of the biotechnology company’s stock after acquiring an additional 68,000 shares during the period. Tocqueville Asset Management L.P. owned 3.57% of Cidara Therapeutics worth $150,000 at the end of the most recent reporting period. 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.