Cidara Therapeutics (NASDAQ:CDTX) Raised to Sell at StockNews.com

Cidara Therapeutics (NASDAQ:CDTX) was upgraded by stock analysts at StockNews.com to a “sell” rating in a research note issued to investors on Wednesday.

Several other research analysts have also commented on CDTX. Citigroup initiated coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They set an “outperform” rating for the company. JMP Securities set a $46.00 target price on Cidara Therapeutics in a research report on Wednesday, March 12th. Needham & Company LLC reissued a “buy” rating and set a $35.00 price target on shares of Cidara Therapeutics in a research report on Thursday, April 10th. Citizens Jmp initiated coverage on shares of Cidara Therapeutics in a report on Wednesday, March 12th. They issued an “outperform” rating and a $46.00 price objective for the company. Finally, HC Wainwright increased their target price on shares of Cidara Therapeutics from $24.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $39.14.

Cidara Therapeutics Trading Up 1.4 %

Shares of CDTX opened at $19.44 on Wednesday. The company’s 50-day moving average price is $21.28 and its 200 day moving average price is $19.20. 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 $212.93 million, a P/E ratio of -0.76 and a beta of 0.89.

Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts forecast that Cidara Therapeutics will post -8.74 earnings per share for the current year.

Insider Buying and Selling

In other Cidara Therapeutics news, insider Leslie Tari sold 1,773 shares of Cidara Therapeutics stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total transaction of $38,935.08. Following the completion of the sale, the insider now directly owns 16,215 shares of the company’s stock, valued at $356,081.40. The trade was a 9.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Shane Ward sold 1,664 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total value of $36,541.44. Following the completion of the transaction, the chief operating officer now owns 14,674 shares in the company, valued at approximately $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 insiders.

Institutional Trading of Cidara Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDTX. Geode Capital Management LLC grew its position in shares of Cidara Therapeutics by 22.7% in the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock valued at $569,000 after buying an additional 9,771 shares during the last quarter. ADAR1 Capital Management LLC acquired a new position in Cidara Therapeutics in the fourth quarter valued at $670,000. Vivo Capital LLC purchased a new position in shares of Cidara Therapeutics during the fourth quarter worth about $18,026,000. Adage Capital Partners GP L.L.C. grew its holdings in shares of Cidara Therapeutics by 765.3% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 369,954 shares of the biotechnology company’s stock worth $9,944,000 after purchasing an additional 327,199 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Cidara Therapeutics during the fourth quarter worth about $419,000. 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 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.