Cidara Therapeutics, Inc. (NASDAQ:CDTX) Receives $39.14 Consensus PT from Analysts

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have earned an average rating of “Buy” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $39.14.

A number of equities research analysts recently weighed in on the company. HC Wainwright lifted their target price on Cidara Therapeutics from $24.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Needham & Company LLC reissued a “buy” rating and set a $35.00 price objective on shares of Cidara Therapeutics in a report on Friday, March 7th. Citigroup assumed coverage on Cidara Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating for the company. Royal Bank of Canada started coverage on shares of Cidara Therapeutics in a research note on Friday, December 13th. They set an “outperform” rating and a $34.00 price target on the stock. Finally, Citizens Jmp started coverage on shares of Cidara Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $46.00 price objective for the company.

Cidara Therapeutics Stock Up 2.2 %

NASDAQ:CDTX opened at $17.47 on Monday. The company’s 50 day moving average is $21.51 and its 200-day moving average is $18.93. Cidara Therapeutics has a 12 month low of $10.00 and a 12 month high of $28.42. The firm has a market cap of $191.35 million, a price-to-earnings ratio of -0.68 and a beta of 0.89.

Cidara Therapeutics (NASDAQ:CDTX) last released its earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) EPS for the quarter, missing the consensus estimate of ($5.28) by ($0.10). Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%. Research analysts predict that Cidara Therapeutics will post -8.74 EPS for the current fiscal year.

Insider Activity

In other Cidara Therapeutics news, insider Leslie Tari sold 1,773 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total value of $38,935.08. Following the transaction, the insider now owns 16,215 shares of the company’s stock, valued at approximately $356,081.40. The trade was a 9.86 % 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 hyperlink. Also, COO Shane Ward sold 1,664 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total value of $36,541.44. Following the sale, the chief operating officer now owns 14,674 shares in the company, valued at $322,241.04. The trade was a 10.18 % decrease in their position. The disclosure for this sale can be found here. 7.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CDTX. TCG Crossover Management LLC bought a new position in shares of Cidara Therapeutics in the fourth quarter worth about $26,092,000. VR Adviser LLC acquired a new stake in shares of Cidara Therapeutics in the fourth quarter valued at approximately $20,583,000. Vivo Capital LLC acquired a new stake in shares of Cidara Therapeutics in the fourth quarter valued at approximately $18,026,000. BVF Inc. IL raised its position in Cidara Therapeutics by 55.4% in the 4th quarter. BVF Inc. IL now owns 1,092,796 shares of the biotechnology company’s stock worth $29,374,000 after purchasing an additional 389,731 shares during the last quarter. Finally, RA Capital Management L.P. lifted its holdings in Cidara Therapeutics by 55.4% during the 4th quarter. RA Capital Management L.P. now owns 1,092,796 shares of the biotechnology company’s stock worth $29,374,000 after buying an additional 389,716 shares in the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

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.