Cidara Therapeutics (CDTX) Given Average Recommendation of “Buy” by Brokerages

Cidara Therapeutics (NASDAQ:CDTX) has been given an average recommendation of “Buy” by the ten ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $14.18.

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald set a $15.00 target price on shares of Cidara Therapeutics and gave the company a “buy” rating in a research note on Thursday, March 8th. Zacks Investment Research cut shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, January 12th.

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Institutional investors have recently made changes to their positions in the business. OxFORD Asset Management LLP lifted its holdings in Cidara Therapeutics by 69.1% during the 3rd 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. Raymond James Financial Services Advisors Inc. lifted its holdings in Cidara Therapeutics by 37.2% during the 3rd 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. JPMorgan Chase & Co. lifted its holdings in Cidara Therapeutics by 77.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 41,266 shares of the biotechnology company’s stock valued at $328,000 after purchasing an additional 18,001 shares during the last quarter. Eversept Partners LLC acquired a new stake in Cidara Therapeutics during the 4th quarter valued at $340,000. Finally, Renaissance Technologies LLC lifted its holdings in Cidara Therapeutics by 26.2% during the 4th quarter. Renaissance Technologies LLC now owns 179,300 shares of the biotechnology company’s stock valued at $1,219,000 after purchasing an additional 37,197 shares during the last quarter. 71.87% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:CDTX remained flat at $$4.00 during midday trading on Thursday. 460,585 shares of the company traded hands, compared to its average volume of 215,355. Cidara Therapeutics has a twelve month low of $3.75 and a twelve month high of $8.80. The company has a quick ratio of 6.43, a current ratio of 6.43 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $81.01, a PE ratio of -1.25 and a beta of 2.07.

Cidara Therapeutics (NASDAQ:CDTX) last released its earnings results on Tuesday, February 27th. The biotechnology company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.05. research analysts predict that Cidara Therapeutics will post -2.66 EPS for the current year.

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About Cidara Therapeutics

Cidara Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of anti-infectives for the treatment of diseases. Its lead product candidate is rezafungin acetate, a molecule in the echinocandin class of antifungals for the treatment and prevention of serious invasive fungal infections, including candidemia and invasive candidiasis, fungal infections associated with high mortality rates.

Analyst Recommendations for Cidara Therapeutics (NASDAQ:CDTX)

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