Cidara Therapeutics Inc. (CDTX) Receives Consensus Recommendation of “Hold” from Analysts
Cidara Therapeutics Inc. (NASDAQ:CDTX) has received a consensus rating of “Hold” from the seven ratings firms that are covering the stock. Two analysts have rated the stock with a sell rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $18.17.
Several brokerages have issued reports on CDTX. WBB Securities lowered Cidara Therapeutics from a “hold” rating to a “sell” rating and set a $10.50 price target on the stock. in a research note on Friday, September 23rd. Zacks Investment Research lowered Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, September 12th. Wedbush reissued an “outperform” rating on shares of Cidara Therapeutics in a research note on Tuesday, August 16th. BTIG Research reissued a “buy” rating and issued a $24.00 price target on shares of Cidara Therapeutics in a research note on Monday, August 15th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Cidara Therapeutics in a research note on Monday, August 15th.
Cidara Therapeutics (NASDAQ:CDTX) remained flat at $10.06 during trading on Wednesday. 41,714 shares of the company’s stock traded hands. Cidara Therapeutics has a 12 month low of $9.48 and a 12 month high of $18.07. The firm’s market capitalization is $139.89 million. The stock has a 50-day moving average price of $11.37 and a 200-day moving average price of $11.75.
Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings results on Thursday, August 11th. The biotechnology company reported ($0.85) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.76) by $0.09. On average, analysts predict that Cidara Therapeutics will post ($3.35) earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of CDTX. Teachers Advisors Inc. raised its stake in Cidara Therapeutics by 103.0% in the second quarter. Teachers Advisors Inc. now owns 14,066 shares of the biotechnology company’s stock worth $145,000 after buying an additional 7,137 shares during the last quarter. Rhumbline Advisers bought a new stake in Cidara Therapeutics during the second quarter worth approximately $145,000. Spark Investment Management LLC raised its stake in Cidara Therapeutics by 26.7% in the second quarter. Spark Investment Management LLC now owns 14,700 shares of the biotechnology company’s stock worth $151,000 after buying an additional 3,100 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new stake in Cidara Therapeutics during the second quarter worth approximately $177,000. Finally, Emerald Acquisition Ltd. bought a new stake in Cidara Therapeutics during the second quarter worth approximately $183,000. 58.87% of the stock is currently owned by institutional investors.
Cidara Therapeutics Company Profile
Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.
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