Shares of Cidara Therapeutics Inc (NASDAQ:CDTX) have earned a consensus rating of “Buy” from the eleven research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $14.28.
A number of brokerages have recently issued reports on CDTX. Cantor Fitzgerald set a $15.00 price target on shares of Cidara Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, November 28th. HC Wainwright boosted their price target on shares of Cidara Therapeutics from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. Zacks Investment Research upgraded shares of Cidara Therapeutics from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a research note on Wednesday, October 25th. Finally, ValuEngine lowered shares of Cidara Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st.
Shares of Cidara Therapeutics (CDTX) traded up $0.05 during trading hours on Tuesday, hitting $7.20. 65,900 shares of the stock were exchanged, compared to its average volume of 101,935. Cidara Therapeutics has a 1-year low of $5.60 and a 1-year high of $11.75. The company has a quick ratio of 7.69, a current ratio of 7.69 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $143.69 and a PE ratio of -2.12.
In related news, major shareholder Target N. V. Biotech bought 60,000 shares of the stock in a transaction on Wednesday, November 15th. The shares were bought at an average cost of $7.57 per share, for a total transaction of $454,200.00. Following the completion of the transaction, the insider now owns 2,295,272 shares of the company’s stock, valued at approximately $17,375,209.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 18.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CDTX. Broadfin Capital LLC grew its position in shares of Cidara Therapeutics by 45.0% in the second quarter. Broadfin Capital LLC now owns 816,275 shares of the biotechnology company’s stock valued at $6,122,000 after purchasing an additional 253,400 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of Cidara Therapeutics during the second quarter valued at approximately $650,000. BB Biotech AG lifted its stake in shares of Cidara Therapeutics by 5.6% during the second quarter. BB Biotech AG now owns 1,102,578 shares of the biotechnology company’s stock valued at $8,269,000 after buying an additional 58,754 shares during the period. Susquehanna International Group LLP purchased a new position in shares of Cidara Therapeutics during the second quarter valued at approximately $350,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Cidara Therapeutics by 77.4% during the third quarter. JPMorgan Chase & Co. now owns 41,266 shares of the biotechnology company’s stock valued at $328,000 after buying an additional 18,001 shares during the period. Institutional investors and hedge funds own 55.45% of the company’s stock.
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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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