Cidara Therapeutics Inc (NASDAQ:CDTX) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Cidara Therapeutics, Inc. is a biotechnology company. The company is focused on the discovery, development and commercialization of novel anti-infectives. Its product pipeline includes CD101 IV, a long-acting echinocandin antifungal, CD101 topical and C001 which are in different clinical trial. The company developed its product using Cloudbreak(TM) immunotherapy platform. Cidara Therapeutics, Inc. is headquartered in San Diego, California. “

Several other research analysts also recently weighed in on the stock. Cantor Fitzgerald set a $20.00 price target on shares of Cidara Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, January 4th. WBB Securities upgraded shares of Cidara Therapeutics from a “sell” rating to a “hold” rating and set a $7.25 price target on the stock in a research report on Wednesday, February 22nd. HC Wainwright started coverage on shares of Cidara Therapeutics in a research report on Monday, December 19th. They issued a “buy” rating and a $25.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $22.00 price target (up from $13.00) on shares of Cidara Therapeutics in a research report on Tuesday, February 21st. Finally, Needham & Company LLC decreased their price target on shares of Cidara Therapeutics from $20.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, February 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $13.28.

Analyst Recommendations for Cidara Therapeutics (NASDAQ:CDTX)

Shares of Cidara Therapeutics (NASDAQ:CDTX) traded down 0.70% on Monday, reaching $7.10. 257,467 shares of the company traded hands. The firm’s market capitalization is $118.38 million. Cidara Therapeutics has a 1-year low of $6.65 and a 1-year high of $15.91. The stock has a 50-day moving average price of $8.64 and a 200 day moving average price of $10.08.

Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings results on Wednesday, March 15th. The biotechnology company reported ($0.88) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.79) by $0.09. During the same period last year, the company posted ($0.72) EPS. Analysts anticipate that Cidara Therapeutics will post ($3.11) EPS for the current fiscal year.

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Several hedge funds have recently made changes to their positions in CDTX. Oxford Asset Management purchased a new stake in shares of Cidara Therapeutics during the fourth quarter valued at approximately $133,000. Spark Investment Management LLC increased its stake in shares of Cidara Therapeutics by 2.7% in the third quarter. Spark Investment Management LLC now owns 15,100 shares of the biotechnology company’s stock valued at $172,000 after buying an additional 400 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Cidara Therapeutics during the fourth quarter valued at approximately $173,000. Turner Investments LLC increased its stake in shares of Cidara Therapeutics by 7.3% in the fourth quarter. Turner Investments LLC now owns 29,451 shares of the biotechnology company’s stock valued at $306,000 after buying an additional 2,000 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Cidara Therapeutics by 14.7% in the fourth quarter. Renaissance Technologies LLC now owns 49,900 shares of the biotechnology company’s stock valued at $519,000 after buying an additional 6,400 shares during the last quarter. Hedge funds and other institutional investors own 47.34% of the company’s stock.

About Cidara Therapeutics

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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