Cidara Therapeutics, Inc. (CDTX) Receives Consensus Recommendation of “Buy” from Analysts
Cidara Therapeutics, Inc. (NASDAQ:CDTX) has been assigned an average rating of “Buy” from the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $14.28.
Several brokerages have issued reports on CDTX. WBB Securities raised Cidara Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Cantor Fitzgerald reissued an “overweight” rating on shares of Cidara Therapeutics in a research note on Friday, August 11th. ValuEngine raised Cidara Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Friday, July 14th. Zacks Investment Research lowered Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, Wedbush reissued an “outperform” rating and issued a $13.00 price target on shares of Cidara Therapeutics in a research note on Tuesday, May 16th.
Cidara Therapeutics (CDTX) remained flat at $6.75 on Wednesday. The company had a trading volume of 143,055 shares. The company has a 50-day moving average price of $7.08 and a 200 day moving average price of $7.32. The firm’s market cap is $113.83 million. Cidara Therapeutics has a 12 month low of $5.60 and a 12 month high of $12.95.
Cidara Therapeutics (NASDAQ:CDTX) last announced its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.99) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.91) by $0.08. Equities analysts expect that Cidara Therapeutics will post ($3.62) EPS for the current fiscal year.
In other news, insider Taylor Sandison bought 20,000 shares of the stock in a transaction dated Wednesday, June 7th. The shares were bought at an average cost of $5.90 per share, with a total value of $118,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Stein bought 15,000 shares of the stock in a transaction dated Monday, June 5th. The shares were purchased at an average cost of $5.95 per share, for a total transaction of $89,250.00. The disclosure for this purchase can be found here. 18.90% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in CDTX. Trexquant Investment LP bought a new stake in Cidara Therapeutics during the second quarter worth approximately $110,000. Citadel Advisors LLC bought a new stake in Cidara Therapeutics during the second quarter worth approximately $129,000. Raymond James Financial Services Advisors Inc. bought a new stake in Cidara Therapeutics during the second quarter worth approximately $131,000. Teachers Advisors LLC raised its stake in Cidara Therapeutics by 17.5% in the fourth quarter. Teachers Advisors LLC now owns 16,524 shares of the biotechnology company’s stock worth $172,000 after buying an additional 2,458 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Cidara Therapeutics by 455.6% in the first quarter. JPMorgan Chase & Co. now owns 25,639 shares of the biotechnology company’s stock worth $200,000 after buying an additional 21,024 shares during the last quarter. 68.22% of the stock is owned by institutional investors and hedge funds.
About Cidara Therapeutics
Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.
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