WBB Securities reaffirmed their strong-buy rating on shares of Cidara Therapeutics (NASDAQ:CDTX – Free Report) in a report published on Thursday morning, Benzinga reports. The brokerage currently has a $40.00 price objective on the biotechnology company’s stock.
Several other brokerages have also recently weighed in on CDTX. Cantor Fitzgerald reaffirmed an overweight rating on shares of Cidara Therapeutics in a report on Tuesday, April 23rd. HC Wainwright reaffirmed a buy rating and issued a $120.00 target price on shares of Cidara Therapeutics in a report on Monday, April 8th. Finally, Needham & Company LLC raised their target price on shares of Cidara Therapeutics from $3.00 to $25.00 and gave the company a buy rating in a report on Thursday. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cidara Therapeutics currently has an average rating of Buy and a consensus target price of $71.25.
Read Our Latest Research Report on Cidara Therapeutics
Cidara Therapeutics Stock Performance
Institutional Trading of Cidara Therapeutics
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC acquired a new stake in Cidara Therapeutics during the third quarter worth approximately $28,000. Pale Fire Capital SE acquired a new stake in Cidara Therapeutics during the third quarter worth approximately $51,000. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Cidara Therapeutics by 25.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 15,912 shares in the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.
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.
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