Cidara Therapeutics (NASDAQ:CDTX) Now Covered by Analysts at Citizens Jmp

Citizens Jmp began coverage on shares of Cidara Therapeutics (NASDAQ:CDTX) in a research note issued on Wednesday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $46.00 price target on the biotechnology company’s stock. Citizens Jmp’s price target suggests a potential upside of 119.05% from the stock’s current price.

Other research analysts also recently issued research reports about the company. HC Wainwright upped their price objective on Cidara Therapeutics from $24.00 to $35.00 and gave the company a “buy” rating in a research note on Monday. Royal Bank of Canada began coverage on Cidara Therapeutics in a research report on Friday, December 13th. They set an “outperform” rating and a $34.00 price target on the stock. Cantor Fitzgerald raised Cidara Therapeutics to a “strong-buy” rating in a research report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 price target on shares of Cidara Therapeutics in a research report on Friday, March 7th. Finally, WBB Securities increased their price objective on Cidara Therapeutics from $40.00 to $45.00 and gave the stock a “strong-buy” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Cidara Therapeutics presently has an average rating of “Buy” and a consensus price target of $38.00.

Cidara Therapeutics Trading Down 6.2 %

Shares of Cidara Therapeutics stock opened at $21.00 on Wednesday. The stock has a fifty day simple moving average of $22.35 and a 200 day simple moving average of $17.64. Cidara Therapeutics has a 12-month low of $10.00 and a 12-month high of $28.42. The company has a market capitalization of $147.99 million, a P/E ratio of -0.82 and a beta of 0.88.

Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings data on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($5.28) by ($0.10). Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%. On average, analysts predict that Cidara Therapeutics will post -8.74 EPS for the current year.

Hedge Funds Weigh In On Cidara Therapeutics

Several institutional investors have recently modified their holdings of CDTX. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cidara Therapeutics during the 4th quarter valued at about $56,000. Point72 Asset Management L.P. bought a new position in Cidara Therapeutics during the 4th quarter worth approximately $165,000. OMERS ADMINISTRATION Corp bought a new position in Cidara Therapeutics during the 4th quarter worth approximately $339,000. Jane Street Group LLC bought a new position in Cidara Therapeutics during the 4th quarter worth approximately $342,000. Finally, Boothbay Fund Management LLC bought a new position in Cidara Therapeutics during the 4th quarter worth approximately $419,000. 35.82% of the stock is currently owned by institutional investors.

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.