Cidara Therapeutics, Inc. (CDTX) Receives $14.00 Average PT from Analysts

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have been given an average recommendation of “Buy” by the twelve analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $14.00.

Several equities analysts have weighed in on CDTX shares. Cantor Fitzgerald set a $15.00 price target on Cidara Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, November 28th. HC Wainwright lifted their target price on Cidara Therapeutics from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. Zacks Investment Research raised Cidara Therapeutics from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a research report on Wednesday, October 25th. WBB Securities raised Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Finally, ValuEngine lowered Cidara Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st.

In related news, major shareholder Target N. V. Biotech bought 60,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was bought at an average cost of $7.57 per share, for a total transaction of $454,200.00. Following the completion of the purchase, the insider now directly owns 2,295,272 shares in the company, valued at approximately $17,375,209.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey Stein bought 7,350 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was bought at an average price of $6.79 per share, with a total value of $49,906.50. Following the completion of the purchase, the chief executive officer now owns 51,851 shares of the company’s stock, valued at $352,068.29. The disclosure for this purchase can be found here. 18.90% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. TIAA CREF Investment Management LLC boosted its stake in Cidara Therapeutics by 4.9% in the first quarter. TIAA CREF Investment Management LLC now owns 39,065 shares of the biotechnology company’s stock valued at $305,000 after acquiring an additional 1,840 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Cidara Therapeutics by 6.7% during the first quarter. Bank of New York Mellon Corp now owns 42,350 shares of the biotechnology company’s stock valued at $330,000 after purchasing an additional 2,647 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Cidara Therapeutics by 37.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 23,985 shares of the biotechnology company’s stock valued at $194,000 after purchasing an additional 6,500 shares during the last quarter. OxFORD Asset Management LLP grew its stake in shares of Cidara Therapeutics by 69.1% during the third quarter. OxFORD Asset Management LLP now owns 22,181 shares of the biotechnology company’s stock valued at $187,000 after purchasing an additional 9,065 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Cidara Therapeutics during the second quarter valued at approximately $110,000. Institutional investors own 55.45% of the company’s stock.

Cidara Therapeutics (CDTX) traded down $0.15 during trading on Friday, reaching $7.75. The company’s stock had a trading volume of 29,062 shares, compared to its average volume of 103,718. The company has a quick ratio of 7.69, a current ratio of 7.69 and a debt-to-equity ratio of 0.16. Cidara Therapeutics has a one year low of $5.60 and a one year high of $11.75.

Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.94) by $0.21. research analysts anticipate that Cidara Therapeutics will post -3.31 EPS for the current year.

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About Cidara Therapeutics

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.

Analyst Recommendations for Cidara Therapeutics (NASDAQ:CDTX)

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