Cidara Therapeutics, Inc. (NASDAQ:CDTX – Get Free Report) shares rose 7.1% during trading on Wednesday . The stock traded as high as $11.34 and last traded at $10.98. Approximately 23,896 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 35,403 shares. The stock had previously closed at $10.25.
Analysts Set New Price Targets
CDTX has been the subject of several recent analyst reports. Needham & Company LLC lifted their price target on Cidara Therapeutics from $3.00 to $25.00 and gave the company a “buy” rating in a report on Thursday. HC Wainwright reissued a “buy” rating and set a $120.00 price target on shares of Cidara Therapeutics in a research report on Monday, April 8th. WBB Securities reaffirmed a “strong-buy” rating and issued a $40.00 target price on shares of Cidara Therapeutics in a research report on Thursday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Cidara Therapeutics in a report on Tuesday. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $71.25.
Get Our Latest Stock Analysis on Cidara Therapeutics
Cidara Therapeutics Trading Down 2.8 %
Institutional Trading of Cidara Therapeutics
A number of hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its stake in shares of Cidara Therapeutics by 25.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock valued at $75,000 after buying an additional 15,912 shares during the period. Flagship Harbor Advisors LLC bought a new position in Cidara Therapeutics during the third quarter worth about $28,000. Finally, Pale Fire Capital SE bought a new position in Cidara Therapeutics during the third quarter worth about $51,000. Institutional investors own 35.82% of the company’s stock.
Cidara Therapeutics Company Profile
Cidara Therapeutics, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States. The company's lead product candidate is 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.
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