Brokerages Set Cidara Therapeutics Inc (CDTX) Target Price at $10.00

Shares of Cidara Therapeutics Inc (NASDAQ:CDTX) have been assigned a consensus rating of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $12.33.

A number of brokerages have recently issued reports on CDTX. Zacks Investment Research upgraded shares of Cidara Therapeutics from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a report on Tuesday, November 13th. ValuEngine upgraded shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd.

A number of institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. increased its holdings in Cidara Therapeutics by 27.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 269,872 shares of the biotechnology company’s stock valued at $634,000 after purchasing an additional 57,306 shares during the last quarter. Raymond James & Associates increased its holdings in Cidara Therapeutics by 38.2% in the 4th quarter. Raymond James & Associates now owns 331,351 shares of the biotechnology company’s stock valued at $779,000 after purchasing an additional 91,553 shares during the last quarter. BlackRock Inc. increased its holdings in Cidara Therapeutics by 1.9% in the 4th quarter. BlackRock Inc. now owns 291,512 shares of the biotechnology company’s stock valued at $685,000 after purchasing an additional 5,563 shares during the last quarter. Trellus Management Company LLC increased its holdings in Cidara Therapeutics by 105.8% in the 4th quarter. Trellus Management Company LLC now owns 94,143 shares of the biotechnology company’s stock valued at $221,000 after purchasing an additional 48,391 shares during the last quarter. Finally, Alethea Capital Management LLC increased its holdings in Cidara Therapeutics by 10.3% in the 4th quarter. Alethea Capital Management LLC now owns 482,357 shares of the biotechnology company’s stock valued at $1,134,000 after purchasing an additional 45,000 shares during the last quarter. Hedge funds and other institutional investors own 65.52% of the company’s stock.

Shares of NASDAQ CDTX opened at $2.60 on Friday. The company has a market cap of $74.65 million, a PE ratio of -0.82 and a beta of 2.27. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.78 and a quick ratio of 6.78. Cidara Therapeutics has a 1 year low of $1.94 and a 1 year high of $8.55.

About Cidara Therapeutics

Cidara Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of anti-infectives for the treatment of diseases. Its lead product candidate is rezafungin acetate, a molecule in the echinocandin class of antifungals for the treatment and prevention of serious invasive fungal infections, including candidemia and invasive candidiasis, fungal infections associated with high mortality rates.

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