Shares of Cidara Therapeutics Inc (NASDAQ:CDTX) have earned an average recommendation of “Buy” from the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $14.28.
CDTX has been the subject of a number of research reports. Cantor Fitzgerald set a $15.00 price target on Cidara Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, November 28th. HC Wainwright lifted their price target on Cidara Therapeutics from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. Finally, Zacks Investment Research upgraded Cidara Therapeutics from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a research note on Wednesday, October 25th.
A number of large investors have recently bought and sold shares of CDTX. Goldman Sachs Group Inc. acquired a new position in Cidara Therapeutics in the second quarter valued at approximately $650,000. JPMorgan Chase & Co. boosted its stake in 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 during the period. OxFORD Asset Management LLP boosted its stake in 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 during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Cidara Therapeutics by 37.2% in 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 acquiring an additional 6,500 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Cidara Therapeutics by 26.2% in the fourth quarter. Renaissance Technologies LLC now owns 179,300 shares of the biotechnology company’s stock valued at $1,219,000 after acquiring an additional 37,197 shares during the period. Institutional investors and hedge funds own 59.51% of the company’s stock.
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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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