Cidara Therapeutics (NASDAQ:CDTX) Upgraded by StockNews.com to “Sell” Rating

Cidara Therapeutics (NASDAQ:CDTX) was upgraded by stock analysts at StockNews.com to a “sell” rating in a research report issued on Friday.

Other research analysts also recently issued reports about the stock. Citigroup initiated coverage on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. They issued an “outperform” rating on the stock. Royal Bank of Canada began coverage on Cidara Therapeutics in a report on Friday, December 13th. They issued an “outperform” rating and a $34.00 target price on the stock. WBB Securities upped their price target on Cidara Therapeutics from $40.00 to $45.00 and gave the stock a “strong-buy” rating in a research report on Thursday, December 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 price objective on shares of Cidara Therapeutics in a research report on Friday, March 7th. Finally, JMP Securities set a $46.00 price objective on Cidara Therapeutics in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $39.14.

Cidara Therapeutics Stock Down 7.8 %

Shares of Cidara Therapeutics stock traded down $1.39 on Friday, reaching $16.43. The company’s stock had a trading volume of 119,539 shares, compared to its average volume of 68,643. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $28.42. The firm’s fifty day simple moving average is $21.62 and its two-hundred day simple moving average is $18.73. The company has a market capitalization of $179.96 million, a price-to-earnings ratio of -0.64 and a beta of 0.89.

Cidara Therapeutics (NASDAQ:CDTX) last posted its earnings results 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%. As a group, research analysts predict that Cidara Therapeutics will post -8.74 EPS for the current year.

Insider Activity

In related news, COO Shane Ward sold 1,664 shares of Cidara Therapeutics stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total transaction of $36,541.44. Following the sale, the chief operating officer now owns 14,674 shares of the company’s stock, valued at approximately $322,241.04. This trade represents a 10.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leslie Tari sold 1,773 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total value of $38,935.08. Following the completion of the transaction, the insider now directly owns 16,215 shares in the company, valued at approximately $356,081.40. This represents a 9.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.64% of the company’s stock.

Institutional Trading of Cidara Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of CDTX. BVF Inc. IL raised its position in Cidara Therapeutics by 55.4% during the fourth quarter. BVF Inc. IL now owns 1,092,796 shares of the biotechnology company’s stock valued at $29,374,000 after purchasing an additional 389,731 shares during the period. RA Capital Management L.P. lifted its position in shares of Cidara Therapeutics by 55.4% during the fourth quarter. RA Capital Management L.P. now owns 1,092,796 shares of the biotechnology company’s stock worth $29,374,000 after purchasing an additional 389,716 shares during the last quarter. TCG Crossover Management LLC purchased a new stake in shares of Cidara Therapeutics during the fourth quarter valued at $26,092,000. VR Adviser LLC bought a new position in shares of Cidara Therapeutics in the fourth quarter worth about $20,583,000. Finally, Vivo Capital LLC purchased a new position in Cidara Therapeutics in the 4th quarter worth about $18,026,000. 35.82% of the stock is currently owned by institutional investors.

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.