Analysts Set Cidara Therapeutics, Inc. (NASDAQ:CDTX) PT at $71.25

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTXGet Free Report) have received an average rating of “Buy” from the four ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $71.25.

Several equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price on shares of Cidara Therapeutics in a research report on Thursday, May 16th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cidara Therapeutics in a research report on Tuesday, April 23rd. WBB Securities restated a “strong-buy” rating and set a $40.00 price target on shares of Cidara Therapeutics in a research report on Thursday, April 25th. Finally, HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective on shares of Cidara Therapeutics in a report on Monday, April 8th.

Check Out Our Latest Analysis on Cidara Therapeutics

Insider Buying and Selling at Cidara Therapeutics

In related news, CEO Jeffrey Stein acquired 8,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were purchased at an average price of $13.21 per share, for a total transaction of $105,680.00. Following the completion of the acquisition, the chief executive officer now owns 24,580 shares in the company, valued at $324,701.80. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 7.64% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cidara Therapeutics stock. Pale Fire Capital SE acquired a new stake in Cidara Therapeutics, Inc. (NASDAQ:CDTXFree Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 54,356 shares of the biotechnology company’s stock, valued at approximately $51,000. Pale Fire Capital SE owned 0.06% of Cidara Therapeutics at the end of the most recent quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

Cidara Therapeutics Stock Performance

Shares of CDTX stock opened at $12.10 on Friday. The company has a market capitalization of $55.18 million, a PE ratio of -1.58 and a beta of 1.02. Cidara Therapeutics has a 52-week low of $10.00 and a 52-week high of $24.40. The business’s fifty day moving average is $12.96 and its 200 day moving average is $14.34.

Cidara Therapeutics (NASDAQ:CDTXGet Free Report) last released its quarterly earnings results on Wednesday, May 15th. The biotechnology company reported ($2.28) earnings per share for the quarter, missing the consensus estimate of ($1.50) by ($0.78). Cidara Therapeutics had a negative net margin of 73.46% and a negative return on equity of 201.62%. The business had revenue of $8.46 million during the quarter, compared to analysts’ expectations of $14.50 million. On average, sell-side analysts forecast that Cidara Therapeutics will post -13.07 EPS for the current fiscal year.

About Cidara Therapeutics

(Get Free Report

Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates.

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