Cidara Therapeutics Inc (CDTX) Given Consensus Recommendation of “Buy” by Brokerages
Cidara Therapeutics Inc (NASDAQ:CDTX) has been given an average recommendation of “Buy” by the ten analysts that are covering the stock. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $13.94.
Several research analysts recently weighed in on CDTX shares. Cantor Fitzgerald restated a “buy” rating and set a $9.00 target price on shares of Cidara Therapeutics in a research note on Thursday, March 16th. Zacks Investment Research upgraded Cidara Therapeutics from a “sell” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Thursday, February 23rd. HC Wainwright restated a “buy” rating and set a $18.00 target price (down from $25.00) on shares of Cidara Therapeutics in a research note on Wednesday, February 22nd. Needham & Company LLC dropped their target price on Cidara Therapeutics from $20.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, February 21st. Finally, Jefferies Group LLC restated a “buy” rating and set a $15.00 target price on shares of Cidara Therapeutics in a research note on Friday, March 24th.
Cidara Therapeutics (NASDAQ:CDTX) traded down 2.29% on Tuesday, reaching $6.40. The company’s stock had a trading volume of 54,617 shares. The firm’s 50 day moving average price is $7.19 and its 200-day moving average price is $9.42. Cidara Therapeutics has a 1-year low of $6.30 and a 1-year high of $14.62. The company’s market capitalization is $107.53 million.
Cidara Therapeutics (NASDAQ:CDTX) last announced its 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 in the previous year, the firm posted ($0.72) earnings per share. Equities analysts forecast that Cidara Therapeutics will post ($3.44) earnings per share for the current year.
In other news, insider Kevin Forrest acquired 12,500 shares of the business’s stock in a transaction on Friday, March 31st. The stock was bought at an average cost of $7.75 per share, for a total transaction of $96,875.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey Stein acquired 12,900 shares of the business’s stock in a transaction on Friday, March 31st. The shares were purchased at an average price of $7.75 per share, with a total value of $99,975.00. The disclosure for this purchase can be found here. Corporate insiders own 22.20% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Interwest Venture Management Co. purchased a new stake in Cidara Therapeutics during the fourth quarter valued at approximately $14,111,000. Alyeska Investment Group L.P. purchased a new stake in Cidara Therapeutics during the fourth quarter valued at approximately $1,040,000. Perceptive Advisors LLC purchased a new stake in Cidara Therapeutics during the fourth quarter valued at approximately $8,043,000. Broadfin Capital LLC raised its stake in Cidara Therapeutics by 237.3% in the fourth quarter. Broadfin Capital LLC now owns 562,875 shares of the biotechnology company’s stock valued at $5,854,000 after buying an additional 396,000 shares during the period. Finally, Spark Investment Management LLC raised its stake in 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 period. Institutional investors own 47.34% of the company’s stock.
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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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