Shares of Cidara Therapeutics Inc (NASDAQ:CDTX) have received an average rating of “Buy” from the eight brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $6.88.
A number of equities research analysts recently issued reports on CDTX shares. Needham & Company LLC set a $10.00 price target on Cidara Therapeutics and gave the stock a “buy” rating in a research note on Monday, August 12th. WBB Securities raised Cidara Therapeutics from a “speculative buy” rating to a “buy” rating and set a $6.25 price target for the company in a research note on Wednesday, December 4th. Wedbush raised Cidara Therapeutics from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $2.00 to $4.00 in a research note on Tuesday, September 3rd. Zacks Investment Research lowered Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Finally, BTIG Research reissued a “buy” rating and set a $7.00 price target on shares of Cidara Therapeutics in a research note on Wednesday, September 4th.
Shares of CDTX stock traded down $0.01 on Friday, reaching $2.70. 5,201 shares of the company’s stock were exchanged, compared to its average volume of 197,153. Cidara Therapeutics has a 52 week low of $1.22 and a 52 week high of $3.44. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $87.23 million, a PE ratio of -1.16 and a beta of 2.14. The company’s fifty day simple moving average is $2.27 and its 200 day simple moving average is $1.84.
In other news, CEO Jeffrey Stein bought 52,500 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was acquired at an average cost of $1.91 per share, with a total value of $100,275.00. Following the transaction, the chief executive officer now directly owns 282,320 shares in the company, valued at approximately $539,231.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James E. Levine bought 30,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were purchased at an average cost of $1.91 per share, with a total value of $57,300.00. Following the completion of the transaction, the chief financial officer now owns 205,000 shares in the company, valued at $391,550. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 11,580 shares of company stock valued at $22,479. 15.28% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CDTX. Renaissance Technologies LLC raised its position in Cidara Therapeutics by 53.9% during the 2nd quarter. Renaissance Technologies LLC now owns 610,742 shares of the biotechnology company’s stock valued at $1,026,000 after purchasing an additional 214,010 shares in the last quarter. West Family Investments Inc. raised its position in Cidara Therapeutics by 41.6% during the 2nd quarter. West Family Investments Inc. now owns 300,000 shares of the biotechnology company’s stock valued at $504,000 after purchasing an additional 88,128 shares in the last quarter. Finally, Granahan Investment Management Inc. MA raised its position in Cidara Therapeutics by 6.1% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 464,164 shares of the biotechnology company’s stock valued at $926,000 after purchasing an additional 26,849 shares in the last quarter. 43.79% of the stock is owned by institutional investors and hedge funds.
About Cidara Therapeutics
Cidara Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of anti-infectives for the treatment of diseases. Its lead product candidate is rezafungin acetate, a molecule in the echinocandin class of antifungals for the treatment and prevention of serious invasive fungal infections, including candidemia and invasive candidiasis, fungal infections associated with high mortality rates.
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