Cidara Therapeutics (NASDAQ:CDTX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “Cidara Therapeutics, Inc. is a biotechnology company. The company is focused on the discovery, development and commercialization of novel anti-infectives. Its product pipeline includes CD101 IV, a long-acting echinocandin antifungal, CD101 topical and C001 which are in different clinical trial. The company developed its product using Cloudbreak(TM) immunotherapy platform. Cidara Therapeutics, Inc. is headquartered in San Diego, California. “
Other analysts have also issued reports about the company. ValuEngine lowered Cidara Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Cantor Fitzgerald set a $15.00 price objective on Cidara Therapeutics and gave the company a “buy” rating in a report on Tuesday, November 28th. Finally, HC Wainwright boosted their price objective on Cidara Therapeutics from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Cidara Therapeutics presently has an average rating of “Buy” and a consensus price target of $13.03.
Cidara Therapeutics (NASDAQ:CDTX) last announced its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.73) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.94) by $0.21. research analysts predict that Cidara Therapeutics will post -3.31 EPS for the current year.
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. Insiders own 18.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Broadfin Capital LLC boosted its position in shares of Cidara Therapeutics by 45.0% during the second quarter. Broadfin Capital LLC now owns 816,275 shares of the biotechnology company’s stock worth $6,122,000 after buying an additional 253,400 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of Cidara Therapeutics during the second quarter worth approximately $650,000. Susquehanna International Group LLP acquired a new position in shares of Cidara Therapeutics during the second quarter worth approximately $350,000. BB Biotech AG boosted its position in shares of Cidara Therapeutics by 5.6% during the second quarter. BB Biotech AG now owns 1,102,578 shares of the biotechnology company’s stock worth $8,269,000 after buying an additional 58,754 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in shares of Cidara Therapeutics by 4.9% during the first quarter. TIAA CREF Investment Management LLC now owns 39,065 shares of the biotechnology company’s stock worth $305,000 after buying an additional 1,840 shares during the period. Institutional investors own 55.45% of the company’s stock.
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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