Cidara Therapeutics (NASDAQ:CDTX) Now Covered by Analysts at Citizens Jmp

Citizens Jmp assumed coverage on shares of Cidara Therapeutics (NASDAQ:CDTX) in a research report released on Wednesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $46.00 price target on the biotechnology company’s stock.

A number of other research firms have also recently issued reports on CDTX. WBB Securities lifted their target price on shares of Cidara Therapeutics from $40.00 to $45.00 and gave the company a “strong-buy” rating in a research note on Thursday, December 5th. Royal Bank of Canada assumed coverage on shares of Cidara Therapeutics in a research note on Friday, December 13th. They issued an “outperform” rating and a $34.00 target price for the company. HC Wainwright lifted their target price on shares of Cidara Therapeutics from $24.00 to $35.00 and gave the company a “buy” rating in a research note on Monday. Cantor Fitzgerald upgraded shares of Cidara Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $35.00 target price on shares of Cidara Therapeutics in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $39.14.

Cidara Therapeutics Trading Up 9.5 %

NASDAQ CDTX opened at $23.00 on Wednesday. The stock’s 50 day moving average is $22.35 and its two-hundred day moving average is $17.64. The company has a market capitalization of $162.08 million, a price-to-earnings ratio of -0.90 and a beta of 0.88. Cidara Therapeutics has a 1-year low of $10.00 and a 1-year high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings data on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.28) by ($0.10). Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%. On average, analysts predict that Cidara Therapeutics will post -8.74 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cidara Therapeutics during the 4th quarter valued at $56,000. Point72 Asset Management L.P. bought a new stake in shares of Cidara Therapeutics during the 4th quarter valued at $165,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Cidara Therapeutics during the 4th quarter valued at $339,000. Jane Street Group LLC bought a new stake in shares of Cidara Therapeutics during the 4th quarter valued at $342,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Cidara Therapeutics during the 4th quarter valued at $419,000. Institutional investors own 35.82% of the company’s stock.

Cidara Therapeutics Company Profile

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.