Cidara Therapeutics (NASDAQ:CDTX) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Cidara Therapeutics (NASDAQ:CDTX) from a hold rating to a buy rating in a research report released on Tuesday, January 9th. Zacks Investment Research currently has $7.75 price objective on the biotechnology company’s stock.

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. “

A number of other research analysts have also recently commented on CDTX. Cantor Fitzgerald restated a buy rating and issued a $15.00 target price on shares of Cidara Therapeutics in a research note on Tuesday, September 26th. HC Wainwright lifted their price objective on Cidara Therapeutics from $14.00 to $16.00 and gave the company a buy rating in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $12.93.

Cidara Therapeutics (NASDAQ:CDTX) traded down $0.30 during midday trading on Tuesday, reaching $7.25. The company’s stock had a trading volume of 105,817 shares, compared to its average volume of 85,920. Cidara Therapeutics has a 1-year low of $5.60 and a 1-year high of $11.75. The company has a current ratio of 7.69, a quick ratio of 7.69 and a debt-to-equity ratio of 0.16. The stock has a market cap of $152.80, a PE ratio of -2.13 and a beta of 1.79.

Cidara Therapeutics (NASDAQ:CDTX) last released its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.73) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.94) by $0.21. equities analysts forecast that Cidara Therapeutics will post -3.31 EPS for the current year.

In other Cidara Therapeutics news, major shareholder Target N. V. Biotech bought 60,000 shares of Cidara Therapeutics stock in a transaction on Wednesday, November 15th. The stock was acquired at an average price of $7.57 per share, with a total value of $454,200.00. Following the acquisition, the insider now owns 2,295,272 shares in the company, valued at $17,375,209.04. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 18.90% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC purchased a new position in shares of Cidara Therapeutics in the second quarter valued at about $129,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Cidara Therapeutics in the second quarter valued at about $131,000. OxFORD Asset Management LLP lifted its position in shares of Cidara Therapeutics by 69.1% in the third quarter. OxFORD Asset Management LLP now owns 22,181 shares of the biotechnology company’s stock valued at $187,000 after acquiring an additional 9,065 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Cidara Therapeutics by 77.4% in the third quarter. JPMorgan Chase & Co. now owns 41,266 shares of the biotechnology company’s stock valued at $328,000 after acquiring an additional 18,001 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new position in shares of Cidara Therapeutics in the second quarter valued at about $350,000. 55.45% of the stock is owned by institutional investors and hedge funds.

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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.

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