Analysts Set Cidara Therapeutics, Inc. (NASDAQ:CDTX) PT at $156.11

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have earned a consensus rating of “Hold” from the twelve brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $156.1111.

CDTX has been the topic of a number of recent analyst reports. HC Wainwright lowered Cidara Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, November 14th. Royal Bank Of Canada lowered shares of Cidara Therapeutics from an “outperform” rating to a “sector perform” rating in a research note on Monday, November 17th. Needham & Company LLC cut shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, November 14th. JMP Securities set a $173.00 price objective on shares of Cidara Therapeutics and gave the company a “market outperform” rating in a research note on Friday, October 3rd. Finally, Wall Street Zen raised shares of Cidara Therapeutics to a “sell” rating in a report on Saturday.

Insider Buying and Selling

In related news, COO Shane Ward sold 9,959 shares of the business’s stock in a transaction dated 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 directly owned 25,033 shares of the company’s stock, valued at $5,509,262.64. The trade was a 28.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.89% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CDTX. SG Americas Securities LLC increased its holdings in shares of Cidara Therapeutics by 223.5% in the 4th quarter. SG Americas Securities LLC now owns 5,257 shares of the biotechnology company’s stock valued at $1,161,000 after acquiring an additional 3,632 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Cidara Therapeutics by 285.7% in the third quarter. JPMorgan Chase & Co. now owns 30,671 shares of the biotechnology company’s stock worth $2,937,000 after purchasing an additional 22,718 shares during the period. Tudor Investment Corp ET AL boosted its holdings in Cidara Therapeutics by 37.0% in the third quarter. Tudor Investment Corp ET AL now owns 14,944 shares of the biotechnology company’s stock worth $1,431,000 after purchasing an additional 4,033 shares during the period. Harvest Investment Services LLC bought a new stake in Cidara Therapeutics during the third quarter valued at $754,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Cidara Therapeutics during the third quarter worth $1,672,000. Institutional investors own 35.82% of the company’s stock.

Cidara Therapeutics Price Performance

Shares of Cidara Therapeutics stock opened at $221.38 on Wednesday. Cidara Therapeutics has a 1-year low of $15.22 and a 1-year high of $221.42. The company has a market capitalization of $6.96 billion, a PE ratio of -18.79 and a beta of 1.52. The business has a 50-day moving average of $199.17 and a 200-day moving average of $116.47.

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 the consensus estimate of ($1.19) by ($0.24). On average, equities analysts expect that Cidara Therapeutics will post -8.74 earnings per share for the current fiscal year.

Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc is a clinical‐stage biotechnology company focused on the discovery and development of long‐acting anti‐infectives and immunotherapies to address life‐threatening fungal, viral and bacterial infections. The company’s core technology platforms, including its proprietary CD‐MONT and Cloudbreak platforms, are designed to create novel therapeutic candidates with extended half‐lives and differentiated mechanisms of action. By leveraging its expertise in macromolecular conjugates and immunotherapeutic design, Cidara seeks to offer new treatment options that can reduce dosing frequency and improve patient outcomes in critical care settings.

The company’s lead asset, rezafungin, is a once‐weekly intravenous echinocandin antifungal in late‐stage development for the prevention and treatment of invasive candidiasis and other serious fungal infections.