Analysts Set Cidara Therapeutics, Inc. (NASDAQ:CDTX) Target Price at $39.14

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) have been given a consensus rating of "Buy" by the nine analysts that are currently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $39.14.

A number of research analysts have issued reports on CDTX shares. Needham & Company LLC reissued a "buy" rating and issued a $35.00 target price on shares of Cidara Therapeutics in a research note on Thursday, April 10th. Citigroup initiated coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating on the stock. StockNews.com raised shares of Cidara Therapeutics to a "sell" rating in a report on Wednesday, April 16th. Cantor Fitzgerald raised Cidara Therapeutics to a "strong-buy" rating in a report on Wednesday, February 5th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $46.00 price target on shares of Cidara Therapeutics in a research report on Tuesday, April 29th.

Cidara Therapeutics Trading Down 3.6 %

CDTX traded down $0.70 during midday trading on Friday, reaching $18.99. The company's stock had a trading volume of 50,232 shares, compared to its average volume of 71,584. The company has a fifty day simple moving average of $20.73 and a 200 day simple moving average of $20.19. The stock has a market cap of $238.22 million, a P/E ratio of -0.74 and a beta of 0.86. Cidara Therapeutics has a twelve month low of $10.14 and a twelve month high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) EPS for the quarter, missing the consensus estimate of ($5.28) by ($0.10). Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%. Sell-side analysts expect that Cidara Therapeutics will post -8.74 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Shane Ward sold 1,664 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total value of $36,541.44. Following the completion of the transaction, the chief operating officer now directly owns 14,674 shares of the company's stock, valued at $322,241.04. This represents a 10.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Leslie Tari sold 1,773 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total value of $38,935.08. Following the transaction, the insider now directly owns 16,215 shares of the company's stock, valued at $356,081.40. This represents a 9.86 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.64% of the company's stock.

Hedge Funds Weigh In On Cidara Therapeutics

Hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cidara Therapeutics in the fourth quarter worth $56,000. Point72 Asset Management L.P. purchased a new stake in Cidara Therapeutics in the 4th quarter worth $165,000. OMERS ADMINISTRATION Corp purchased a new position in Cidara Therapeutics during the 4th quarter valued at approximately $339,000. Jane Street Group LLC bought a new stake in Cidara Therapeutics in the fourth quarter worth $342,000. Finally, Boothbay Fund Management LLC bought a new position in shares of Cidara Therapeutics in the 4th quarter valued at about $419,000. Institutional investors own 35.82% of the company's stock.

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.