Cidara Therapeutics, Inc. (NASDAQ:CDTX) Receives $156.11 Consensus Target Price from Analysts

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have been given a consensus recommendation of “Hold” by the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $156.1111.

CDTX has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Cidara Therapeutics in a report on Wednesday, October 8th. HC Wainwright downgraded shares of Cidara Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th. JPMorgan Chase & Co. lowered Cidara Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, November 17th. Citigroup reissued a “market outperform” rating on shares of Cidara Therapeutics in a research report on Tuesday, October 21st. Finally, Royal Bank Of Canada downgraded shares of Cidara Therapeutics from an “outperform” rating to a “sector perform” rating in a research note on Monday, November 17th.

Insider Buying and Selling

In related news, COO Shane Ward sold 9,959 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $220.08, for a total value of $2,191,776.72. Following the completion of the sale, the chief operating officer owned 25,033 shares of the company’s stock, valued at approximately $5,509,262.64. This trade represents a 28.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 7.64% of the company’s stock.

Institutional Trading of Cidara Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank purchased a new stake in shares of Cidara Therapeutics in the second quarter valued at about $28,000. Trifecta Capital Advisors LLC acquired a new position in Cidara Therapeutics in the second quarter valued at $49,000. California State Teachers Retirement System purchased a new stake in Cidara Therapeutics during the second quarter valued at about $51,000. Legal & General Group Plc acquired a new stake in Cidara Therapeutics during the 2nd quarter worth approximately $73,000. Finally, Tower Research Capital LLC TRC raised its holdings in Cidara Therapeutics by 66.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,556 shares of the biotechnology company’s stock valued at $76,000 after buying an additional 623 shares during the period. Hedge funds and other institutional investors own 35.82% of the company’s stock.

Cidara Therapeutics Trading Down 0.2%

CDTX opened at $220.10 on Friday. The stock has a market capitalization of $6.92 billion, a P/E ratio of -18.68 and a beta of 1.45. The stock has a 50-day moving average price of $154.86 and a 200-day moving average price of $91.51. Cidara Therapeutics has a 12-month low of $15.22 and a 12-month high of $221.20.

Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.24). On average, equities research analysts predict that Cidara Therapeutics will post -8.74 EPS for the current year.

About Cidara Therapeutics

Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes 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.