Cantor Fitzgerald set a $11.00 price target on Cidara Therapeutics, Inc. (NASDAQ:CDTX) in a research report report published on Thursday, May 11th. The brokerage currently has a buy rating on the biotechnology company’s stock.
Other equities research analysts have also issued research reports about the company. Needham & Company LLC reiterated a buy rating and issued a $10.00 target price on shares of Cidara Therapeutics in a research note on Monday, April 10th. Zacks Investment Research lowered Cidara Therapeutics from a buy rating to a sell rating in a research note on Monday, March 20th. Ladenburg Thalmann Financial Services assumed coverage on Cidara Therapeutics in a research note on Wednesday, April 12th. They issued a buy rating and a $11.25 target price for the company. HC Wainwright reiterated a buy rating and issued a $14.00 target price (down previously from $18.00) on shares of Cidara Therapeutics in a research note on Monday, April 17th. Finally, Wedbush reiterated an outperform rating and issued a $13.00 target price on shares of Cidara Therapeutics in a research note on Monday, April 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Cidara Therapeutics presently has a consensus rating of Buy and an average price target of $12.77.
Cidara Therapeutics (NASDAQ:CDTX) opened at 6.85 on Thursday. The firm has a 50-day moving average price of $6.78 and a 200 day moving average price of $8.35. The firm’s market capitalization is $115.12 million. Cidara Therapeutics has a 52-week low of $5.65 and a 52-week high of $12.95.
Cidara Therapeutics (NASDAQ:CDTX) last posted its earnings results on Wednesday, May 10th. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.10. Analysts forecast that Cidara Therapeutics will post ($3.43) EPS for the current year.
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In other news, CEO Jeffrey Stein bought 12,900 shares of Cidara Therapeutics stock in a transaction on Friday, March 31st. The shares were bought at an average price of $7.75 per share, with a total value of $99,975.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kevin Forrest bought 12,500 shares of Cidara Therapeutics stock in a transaction on Friday, March 31st. The shares were purchased at an average cost of $7.75 per share, for a total transaction of $96,875.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 60,400 shares of company stock worth $404,100. 22.20% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDTX. Oxford Asset Management purchased a new position in Cidara Therapeutics during the fourth quarter worth approximately $133,000. Spark Investment Management LLC increased its position in Cidara Therapeutics by 2.7% in the third quarter. Spark Investment Management LLC now owns 15,100 shares of the biotechnology company’s stock worth $172,000 after buying an additional 400 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Cidara Therapeutics during the fourth quarter worth approximately $173,000. Teachers Advisors LLC increased its position 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 in the last quarter. Finally, JPMorgan Chase & Co. increased its position 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 in the last quarter. 68.26% of the stock is currently owned by institutional investors.
Cidara Therapeutics Company Profile
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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