Shares of Cidara Therapeutics Inc (NASDAQ:CDTX) have been given a consensus recommendation of “Buy” by the seven analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $11.00.

A number of research firms have commented on CDTX. Wedbush decreased their price target on Cidara Therapeutics from $12.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Zacks Investment Research cut Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 11th. Finally, ValuEngine upgraded Cidara Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd.

Large investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP increased its position in shares of Cidara Therapeutics by 96.6% during the fourth quarter. Two Sigma Investments LP now owns 29,349 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 14,421 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Cidara Therapeutics by 27.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 269,872 shares of the biotechnology company’s stock worth $634,000 after acquiring an additional 57,306 shares during the period. Raymond James & Associates increased its position in shares of Cidara Therapeutics by 38.2% during the fourth quarter. Raymond James & Associates now owns 331,351 shares of the biotechnology company’s stock worth $779,000 after acquiring an additional 91,553 shares during the period. BlackRock Inc. increased its position in shares of Cidara Therapeutics by 1.9% during the fourth quarter. BlackRock Inc. now owns 291,512 shares of the biotechnology company’s stock worth $685,000 after acquiring an additional 5,563 shares during the period. Finally, Trellus Management Company LLC increased its position in shares of Cidara Therapeutics by 105.8% during the fourth quarter. Trellus Management Company LLC now owns 94,143 shares of the biotechnology company’s stock worth $221,000 after acquiring an additional 48,391 shares during the period. Institutional investors own 63.70% of the company’s stock.

NASDAQ:CDTX traded down $0.08 during trading hours on Thursday, reaching $2.35. 209,462 shares of the stock were exchanged, compared to its average volume of 81,859. Cidara Therapeutics has a twelve month low of $1.94 and a twelve month high of $8.55. The stock has a market capitalization of $68.43 million, a price-to-earnings ratio of -1.01 and a beta of 2.26.

Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of anti-infectives for the treatment of diseases. Its lead product candidate is rezafungin acetate, a molecule in the echinocandin class of antifungals for the treatment and prevention of serious invasive fungal infections, including candidemia and invasive candidiasis, fungal infections associated with high mortality rates.

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Analyst Recommendations for Cidara Therapeutics (NASDAQ:CDTX)

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