WBB Securities Reaffirms Strong-Buy Rating for Cidara Therapeutics (NASDAQ:CDTX)

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report)'s stock had its "strong-buy" rating restated by WBB Securities in a report released on Monday,Benzinga reports. They currently have a $45.00 price target on the biotechnology company's stock. WBB Securities' price objective would suggest a potential downside of 6.31% from the company's current price.

Several other research analysts have also recently weighed in on CDTX. Wall Street Zen upgraded shares of Cidara Therapeutics to a "sell" rating in a research report on Saturday, May 10th. Royal Bank Of Canada reissued an "outperform" rating and set a $35.00 price objective (up previously from $31.00) on shares of Cidara Therapeutics in a research report on Friday, May 23rd. Citigroup began coverage on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. They issued an "outperform" rating for the company. JMP Securities reissued a "market outperform" rating and issued a $47.00 price objective on shares of Cidara Therapeutics in a report on Monday, June 2nd. Finally, Needham & Company LLC lifted their price objective on shares of Cidara Therapeutics from $35.00 to $36.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Cidara Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.71.

Cidara Therapeutics Stock Performance

Shares of NASDAQ:CDTX traded down $1.30 during trading on Monday, hitting $48.03. 1,937,866 shares of the stock were exchanged, compared to its average volume of 152,027. The company has a market capitalization of $602.78 million, a price-to-earnings ratio of -1.63 and a beta of 0.79. Cidara Therapeutics has a 1-year low of $10.14 and a 1-year high of $56.83. The company's fifty day simple moving average is $24.44 and its 200-day simple moving average is $22.70.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($1.66) EPS for the quarter, topping analysts' consensus estimates of ($5.45) by $3.79. On average, research analysts forecast that Cidara Therapeutics will post -8.74 earnings per share for the current fiscal year.

Institutional Trading of Cidara Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Cidara Therapeutics during the 4th quarter worth $56,000. Point72 Asset Management L.P. acquired a new position in shares of Cidara Therapeutics in the fourth quarter valued at about $165,000. American Century Companies Inc. bought a new position in Cidara Therapeutics during the first quarter worth about $224,000. West Michigan Advisors LLC acquired a new stake in Cidara Therapeutics in the 1st quarter worth about $291,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Cidara Therapeutics in the 4th quarter worth about $339,000. 35.82% of the stock is currently owned by institutional investors.

Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes 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.