Cidara Therapeutics, Inc. (NASDAQ:CDTX) Receives Average Recommendation of “Buy” from Brokerages

Cidara Therapeutics, Inc. (NASDAQ:CDTX) has been assigned an average recommendation of “Buy” from the six analysts that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $32.20.

CDTX has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $24.00 price target on shares of Cidara Therapeutics in a research report on Monday, November 11th. WBB Securities boosted their price objective on shares of Cidara Therapeutics from $40.00 to $45.00 and gave the stock a “strong-buy” rating in a research note on Thursday, December 5th. StockNews.com downgraded shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Guggenheim started coverage on Cidara Therapeutics in a research report on Friday, November 8th. They set a “buy” rating and a $33.00 target price on the stock. Finally, Royal Bank of Canada began coverage on shares of Cidara Therapeutics in a report on Friday, December 13th. They issued an “outperform” rating and a $34.00 price target for the company.

Hedge Funds Weigh In On Cidara Therapeutics

Several large investors have recently bought and sold shares of CDTX. RA Capital Management L.P. bought a new stake in shares of Cidara Therapeutics during the 3rd quarter worth $7,558,000. Checkpoint Capital L.P. boosted its holdings in Cidara Therapeutics by 25.5% in the 3rd quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company’s stock valued at $1,961,000 after purchasing an additional 37,009 shares during the period. Finally, Geode Capital Management LLC increased its stake in Cidara Therapeutics by 22.7% in the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock worth $569,000 after acquiring an additional 9,771 shares during the last quarter. 35.82% of the stock is currently owned by institutional investors.

Cidara Therapeutics Stock Performance

Shares of NASDAQ CDTX opened at $26.62 on Friday. The stock has a market capitalization of $187.59 million, a P/E ratio of -1.04 and a beta of 1.12. The stock’s fifty day moving average is $19.14 and its 200 day moving average is $14.31. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $28.42.

About Cidara Therapeutics

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.