Cidara Therapeutics (NASDAQ:CDTX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.

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 CDTX. Cantor Fitzgerald restated a “buy” rating and issued a $15.00 price target on shares of Cidara Therapeutics in a research note on Tuesday, September 26th. HC Wainwright upped their price target on Cidara Therapeutics from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $12.93.

Cidara Therapeutics (NASDAQ CDTX) opened at $7.55 on Friday. Cidara Therapeutics has a 52 week low of $5.60 and a 52 week high of $11.75. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.69 and a quick ratio of 7.69.

Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.73) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.94) by $0.21. sell-side analysts anticipate that Cidara Therapeutics will post -3.31 EPS for the current fiscal year.

In other news, major shareholder Target N. V. Biotech bought 60,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was purchased at an average cost of $7.57 per share, for a total transaction of $454,200.00. Following the transaction, the insider now owns 2,295,272 shares of the company’s stock, valued at $17,375,209.04. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 18.90% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BB Biotech AG boosted its position in shares of Cidara Therapeutics by 5.6% during the 2nd quarter. BB Biotech AG now owns 1,102,578 shares of the biotechnology company’s stock valued at $8,269,000 after acquiring an additional 58,754 shares during the last quarter. Broadfin Capital LLC boosted its position in shares of Cidara Therapeutics by 45.0% during the 2nd quarter. Broadfin Capital LLC now owns 816,275 shares of the biotechnology company’s stock valued at $6,122,000 after acquiring an additional 253,400 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Cidara Therapeutics during the 2nd quarter valued at approximately $650,000. Susquehanna International Group LLP bought a new position in shares of Cidara Therapeutics during the 2nd quarter valued at approximately $350,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Cidara Therapeutics by 77.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 41,266 shares of the biotechnology company’s stock valued at $328,000 after acquiring an additional 18,001 shares during the last quarter. Hedge funds and other institutional investors own 55.45% 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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