Cidara Therapeutics (NASDAQ:CDTX) Rating Increased to Strong-Buy at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Cidara Therapeutics (NASDAQ:CDTX) to a strong-buy rating in a research report released on Wednesday,Zacks.com reports.

A number of other research firms have also issued reports on CDTX. WBB Securities boosted their target price on Cidara Therapeutics from $40.00 to $45.00 and gave the stock a “strong-buy” rating in a research note on Thursday, December 5th. Royal Bank of Canada assumed coverage on Cidara Therapeutics in a research report on Friday, December 13th. They set an “outperform” rating and a $34.00 price objective for the company. Guggenheim started coverage on shares of Cidara Therapeutics in a report on Friday, November 8th. They issued a “buy” rating and a $33.00 target price on the stock. StockNews.com downgraded shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $24.00 price objective on shares of Cidara Therapeutics in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cidara Therapeutics has an average rating of “Buy” and a consensus target price of $32.20.

Cidara Therapeutics Stock Up 0.9 %

NASDAQ:CDTX opened at $20.22 on Wednesday. The company has a market capitalization of $142.55 million, a P/E ratio of -0.79 and a beta of 0.94. The stock’s fifty day moving average is $22.09 and its two-hundred day moving average is $15.85. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $28.42.

Institutional Investors Weigh In On Cidara Therapeutics

Several large investors have recently modified their holdings of the stock. RA Capital Management L.P. acquired a new position in Cidara Therapeutics during the third quarter worth $7,558,000. Checkpoint Capital L.P. increased its holdings in shares of 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 in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Cidara Therapeutics by 22.7% in the third quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock valued at $569,000 after purchasing an additional 9,771 shares during the period. Hedge funds and other institutional investors own 35.82% of the company’s stock.

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.