Investment analysts at Oppenheimer initiated coverage on shares of Cidara Therapeutics (NASDAQ:CDTX) in a research report issued on Wednesday, The Fly reports. The firm set an “outperform” rating and a $6.00 price target on the biotechnology company’s stock. Oppenheimer’s price objective would indicate a potential upside of 302.68% from the stock’s current price.

Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded Cidara Therapeutics from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a research note on Wednesday, May 22nd. Wedbush downgraded Cidara Therapeutics from an “outperform” rating to a “neutral” rating and set a $2.00 target price for the company. in a research note on Friday, May 17th. ValuEngine downgraded Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Finally, Cantor Fitzgerald restated a “buy” rating and set a $15.00 target price on shares of Cidara Therapeutics in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $7.88.

Shares of CDTX traded down $0.03 during trading hours on Wednesday, hitting $1.49. 325,409 shares of the company were exchanged, compared to its average volume of 103,711. The company has a market cap of $39.70 million, a PE ratio of -0.64 and a beta of 2.25. Cidara Therapeutics has a 52 week low of $1.41 and a 52 week high of $6.10. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.19 and a current ratio of 3.19.

Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.60) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.60). On average, research analysts predict that Cidara Therapeutics will post -1.69 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. Two Sigma Investments LP increased its position in shares of Cidara Therapeutics by 96.6% in the fourth quarter. Two Sigma Investments LP now owns 29,349 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 14,421 shares during the last quarter. Trellus Management Company LLC raised its position in Cidara Therapeutics by 105.8% in the 4th quarter. Trellus Management Company LLC now owns 94,143 shares of the biotechnology company’s stock worth $221,000 after purchasing an additional 48,391 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Cidara Therapeutics by 27.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 269,872 shares of the biotechnology company’s stock worth $634,000 after purchasing an additional 57,306 shares during the period. BlackRock Inc. raised its position in Cidara Therapeutics by 1.9% in the 4th quarter. BlackRock Inc. now owns 291,512 shares of the biotechnology company’s stock worth $685,000 after purchasing an additional 5,563 shares during the period. Finally, Raymond James & Associates raised its position in Cidara Therapeutics by 38.2% in the 4th quarter. Raymond James & Associates now owns 331,351 shares of the biotechnology company’s stock worth $779,000 after purchasing an additional 91,553 shares during the period. Hedge funds and other institutional investors own 60.33% of the company’s stock.

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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