Shares of Cidara Therapeutics Inc (NASDAQ:CDTX) have earned an average recommendation of “Buy” from the eleven analysts that are currently covering the company. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $13.94.
Several brokerages recently issued reports on CDTX. Ladenburg Thalmann Financial Services began coverage on Cidara Therapeutics in a research report on Wednesday, April 12th. They set a “buy” rating and a $11.25 price objective for the company. Zacks Investment Research upgraded Cidara Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, April 13th. HC Wainwright reiterated a “buy” rating and issued a $14.00 price target (down from $18.00) on shares of Cidara Therapeutics in a report on Monday. Wedbush reiterated an “outperform” rating and issued a $13.00 price target on shares of Cidara Therapeutics in a report on Monday, April 10th. Finally, Leerink Swann assumed coverage on Cidara Therapeutics in a report on Wednesday, December 21st. They issued an “outperform” rating and a $17.00 price target for the company.
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In other news, CEO Jeffrey Stein acquired 12,900 shares of the company’s stock in a transaction dated Friday, March 31st. The stock was acquired at an average cost of $7.75 per share, for a total transaction of $99,975.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kevin Forrest acquired 12,500 shares of the company’s stock in a transaction dated Friday, March 31st. The shares were purchased at an average price of $7.75 per share, with a total value of $96,875.00. The disclosure for this purchase can be found here. Insiders own 22.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CDTX. Teachers Advisors LLC increased its stake in Cidara Therapeutics by 17.5% in the fourth quarter. Teachers Advisors LLC now owns 16,524 shares of the biotechnology company’s stock worth $172,000 after buying an additional 2,458 shares during the last quarter. Perceptive Advisors LLC purchased a new stake in Cidara Therapeutics during the fourth quarter worth approximately $8,043,000. Alyeska Investment Group L.P. purchased a new stake in Cidara Therapeutics during the fourth quarter worth approximately $1,040,000. Broadfin Capital LLC increased its stake in Cidara Therapeutics by 237.3% in the fourth quarter. Broadfin Capital LLC now owns 562,875 shares of the biotechnology company’s stock worth $5,854,000 after buying an additional 396,000 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Cidara Therapeutics by 14.7% in the fourth quarter. Renaissance Technologies LLC now owns 49,900 shares of the biotechnology company’s stock worth $519,000 after buying an additional 6,400 shares during the last quarter. Institutional investors and hedge funds own 47.34% of the company’s stock.
Cidara Therapeutics (NASDAQ:CDTX) traded down 0.79% on Friday, hitting $6.30. The stock had a trading volume of 82,300 shares. The company’s market cap is $105.85 million. The firm’s 50-day moving average is $7.11 and its 200-day moving average is $9.34. Cidara Therapeutics has a 52-week low of $6.10 and a 52-week high of $14.43.
Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings data on Wednesday, March 15th. The biotechnology company reported ($0.88) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.79) by $0.09. During the same period in the previous year, the business posted ($0.72) earnings per share. Equities research analysts anticipate that Cidara Therapeutics will post ($3.49) earnings per share for the current fiscal year.
Cidara Therapeutics Company Profile
Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.
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