Cidara Therapeutics' (CDTX) Strong-Buy Rating Reaffirmed at WBB Securities

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report)'s stock had its "strong-buy" rating reaffirmed by research analysts at WBB Securities in a research report issued on Monday,Benzinga reports. They presently have a $45.00 target price on the biotechnology company's stock. WBB Securities' price target points to a potential upside of 10.47% from the company's current price.

CDTX has been the topic of a number of other reports. Citizens Jmp assumed coverage on shares of Cidara Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating and a $46.00 price target on the stock. JMP Securities restated a "market outperform" rating and set a $47.00 target price on shares of Cidara Therapeutics in a research report on Monday, June 2nd. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Cidara Therapeutics in a report on Tuesday, June 10th. Citigroup started coverage on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating for the company. Finally, HC Wainwright upgraded Cidara Therapeutics to a "buy" rating and set a $41.00 price target on the stock in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.43.

Cidara Therapeutics Price Performance

Shares of CDTX stock traded up $19.72 during trading hours on Monday, reaching $40.74. 3,971,009 shares of the company's stock were exchanged, compared to its average volume of 106,435. The company's 50 day moving average is $22.20 and its two-hundred day moving average is $22.02. The company has a market cap of $511.22 million, a P/E ratio of -1.38 and a beta of 0.79. Cidara Therapeutics has a 1 year low of $10.14 and a 1 year high of $46.84.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($1.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($5.45) by $3.79. As a group, analysts predict that Cidara Therapeutics will post -8.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. TCG Crossover Management LLC purchased a new stake in Cidara Therapeutics during the 4th quarter worth about $26,092,000. VR Adviser LLC acquired a new stake in shares of Cidara Therapeutics during the 4th quarter worth about $20,583,000. Vivo Capital LLC purchased a new stake in shares of Cidara Therapeutics during the fourth quarter worth about $18,026,000. Adage Capital Partners GP L.L.C. grew its holdings in shares of Cidara Therapeutics by 167.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 990,000 shares of the biotechnology company's stock worth $21,325,000 after buying an additional 620,046 shares in the last quarter. Finally, Vestal Point Capital LP acquired a new position in shares of Cidara Therapeutics in the first quarter valued at approximately $10,868,000. 35.82% of the stock is owned by hedge funds and other institutional investors.

About Cidara Therapeutics

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.

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