Cidara Therapeutics (NASDAQ:CDTX) PT Raised to $25.00 at Needham & Company LLC

Cidara Therapeutics (NASDAQ:CDTX) had its target price increased by investment analysts at Needham & Company LLC from $3.00 to $25.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Needham & Company LLC’s target price suggests a potential upside of 93.80% from the company’s previous close.

A number of other research analysts also recently issued reports on CDTX. Cantor Fitzgerald restated an “overweight” rating on shares of Cidara Therapeutics in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of Cidara Therapeutics in a research note on Monday, April 8th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.67.

Cidara Therapeutics Stock Up 5.0 %

NASDAQ:CDTX traded up $0.61 during mid-day trading on Thursday, reaching $12.90. 725,356 shares of the stock were exchanged, compared to its average volume of 47,654. The company has a 50 day simple moving average of $15.37 and a 200-day simple moving average of $15.33. The stock has a market capitalization of $1.18 billion, a P/E ratio of -51.38 and a beta of 0.98. Cidara Therapeutics has a 1 year low of $10.00 and a 1 year high of $29.60.

Institutional Trading of Cidara Therapeutics

Institutional investors have recently modified their holdings of the business. Flagship Harbor Advisors LLC purchased a new stake in shares of Cidara Therapeutics in the third quarter valued at approximately $28,000. Pale Fire Capital SE purchased a new stake in shares of Cidara Therapeutics in the third quarter valued at approximately $51,000. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Cidara Therapeutics by 25.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock valued at $75,000 after buying an additional 15,912 shares in the last quarter. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States. The company's lead product candidate is rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates.