Brokerages Set Cidara Therapeutics, Inc. (CDTX) PT at $14.00

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have earned a consensus rating of “Buy” from the twelve brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $14.00.

Several research analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cidara Therapeutics in a research note on Friday, August 11th. WBB Securities raised Cidara Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research downgraded Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. ValuEngine downgraded Cidara Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, HC Wainwright upped their target price on Cidara Therapeutics from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th.

Shares of Cidara Therapeutics (NASDAQ:CDTX) traded up $0.10 during mid-day trading on Friday, hitting $8.00. The stock had a trading volume of 57,900 shares, compared to its average volume of 104,597. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.69 and a quick ratio of 7.69. Cidara Therapeutics has a twelve month low of $5.60 and a twelve month high of $11.75.

Cidara Therapeutics (NASDAQ:CDTX) last announced its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.73) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.94) by $0.21. sell-side analysts forecast that Cidara Therapeutics will post -3.31 earnings per share for the current fiscal year.

In other news, major shareholder Target N. V. Biotech purchased 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was purchased at an average cost of $7.57 per share, for a total transaction of $454,200.00. Following the completion of the transaction, the insider now owns 2,295,272 shares of the company’s stock, valued at $17,375,209.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey Stein bought 7,350 shares of the company’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 acquisition, the chief executive officer now owns 51,851 shares in the company, valued at $352,068.29. The disclosure for this purchase can be found here. 18.90% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. Broadfin Capital LLC grew its holdings in Cidara Therapeutics by 45.0% in the 2nd quarter. Broadfin Capital LLC now owns 816,275 shares of the biotechnology company’s stock valued at $6,122,000 after buying an additional 253,400 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in Cidara Therapeutics in the 2nd quarter valued at $650,000. Susquehanna International Group LLP purchased a new stake in Cidara Therapeutics in the 2nd quarter valued at $350,000. BB Biotech AG grew its holdings in Cidara Therapeutics by 5.6% in the 2nd quarter. BB Biotech AG now owns 1,102,578 shares of the biotechnology company’s stock valued at $8,269,000 after buying an additional 58,754 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in Cidara Therapeutics by 4.9% in the 1st quarter. TIAA CREF Investment Management LLC now owns 39,065 shares of the biotechnology company’s stock valued at $305,000 after buying an additional 1,840 shares in the last quarter. Institutional investors own 55.45% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This story was published by Week Herald and is the sole property of of Week Herald. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://weekherald.com/2017/12/04/brokerages-set-cidara-therapeutics-inc-cdtx-pt-at-14-00.html.

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.

Analyst Recommendations for Cidara Therapeutics (NASDAQ:CDTX)

Receive News & Ratings for Cidara Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cidara Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply