Cidara Therapeutics, Inc. (NASDAQ:CDTX) Upgraded by WBB Securities to “Hold”
Cidara Therapeutics, Inc. (NASDAQ:CDTX) was upgraded by WBB Securities from a “sell” rating to a “hold” rating in a research report issued on Friday.
Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Cidara Therapeutics from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a research note on Monday, June 19th. Cantor Fitzgerald started coverage on shares of Cidara Therapeutics in a research note on Monday, June 26th. They set an “overweight” rating and a $7.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $14.00 target price (down previously from $18.00) on shares of Cidara Therapeutics in a research note on Monday, April 17th. Raymond James Financial, Inc. started coverage on shares of Cidara Therapeutics in a research note on Thursday, April 20th. They set a “strong-buy” rating and a $14.00 target price on the stock. Finally, BTIG Research restated a “buy” rating and set a $20.00 target price (up previously from $15.00) on shares of Cidara Therapeutics in a research note on Saturday, April 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $13.14.
Shares of Cidara Therapeutics (CDTX) traded up 1.61% during mid-day trading on Friday, hitting $6.30. 12,001 shares of the stock traded hands. Cidara Therapeutics has a 1-year low of $5.65 and a 1-year high of $12.95. The company’s 50-day moving average price is $7.30 and its 200 day moving average price is $7.54. The company’s market capitalization is $105.88 million.
Cidara Therapeutics (NASDAQ:CDTX) last posted its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.99) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.91) by $0.08. Equities research analysts forecast that Cidara Therapeutics will post ($3.56) EPS for the current fiscal year.
In other Cidara Therapeutics news, insider Taylor Sandison purchased 20,000 shares of Cidara Therapeutics stock in a transaction dated Wednesday, June 7th. The stock was purchased at an average price of $5.90 per share, with a total value of $118,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Stein purchased 15,000 shares of Cidara Therapeutics stock in a transaction dated Monday, June 5th. The shares were acquired at an average cost of $5.95 per share, with a total value of $89,250.00. The disclosure for this purchase can be found here. 18.90% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in CDTX. Perceptive Advisors LLC raised its stake in Cidara Therapeutics by 6.9% in the first quarter. Perceptive Advisors LLC now owns 826,369 shares of the biotechnology company’s stock valued at $6,445,000 after buying an additional 53,000 shares during the last quarter. Tekla Capital Management LLC raised its stake in Cidara Therapeutics by 116.3% in the first quarter. Tekla Capital Management LLC now owns 286,472 shares of the biotechnology company’s stock valued at $2,234,000 after buying an additional 154,000 shares during the last quarter. West Family Investments Inc. acquired a new stake in Cidara Therapeutics during the first quarter valued at approximately $780,000. Renaissance Technologies LLC raised its stake in 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. Finally, Trellus Management Company LLC acquired a new stake in Cidara Therapeutics during the second quarter valued at approximately $338,000. 68.46% of the stock is owned by hedge funds and other institutional investors.
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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