Brokerages Set Cidara Therapeutics, Inc. (NASDAQ:CDTX) PT at $39.14

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

A number of equities analysts have recently weighed in on CDTX shares. JMP Securities reiterated a "market outperform" rating and set a $46.00 price target on shares of Cidara Therapeutics in a report on Tuesday, April 29th. StockNews.com upgraded Cidara Therapeutics to a "sell" rating in a report on Wednesday, April 16th. Cantor Fitzgerald upgraded shares of Cidara Therapeutics to a "strong-buy" rating in a research note on Wednesday, February 5th. HC Wainwright raised their price objective on shares of Cidara Therapeutics from $24.00 to $35.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Finally, Citigroup started coverage on shares of Cidara Therapeutics in a report on Wednesday, March 12th. They issued an "outperform" rating for the company.

Insiders Place Their Bets

In related news, COO Shane Ward sold 1,664 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Leslie Tari sold 1,773 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total transaction of $38,935.08. Following the completion of the transaction, the insider now owns 16,215 shares in the company, valued at $356,081.40. This represents a 9.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in Cidara Therapeutics in the fourth quarter valued at $56,000. Point72 Asset Management L.P. purchased a new stake in shares of Cidara Therapeutics in the 4th quarter valued at about $165,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Cidara Therapeutics in the 4th quarter valued at about $339,000. Jane Street Group LLC purchased a new stake in Cidara Therapeutics in the fourth quarter valued at approximately $342,000. Finally, Boothbay Fund Management LLC acquired a new position in Cidara Therapeutics in the fourth quarter valued at $419,000. 35.82% of the stock is owned by hedge funds and other institutional investors.

Cidara Therapeutics Trading Down 0.3 %

CDTX traded down $0.06 on Friday, hitting $21.69. 132,650 shares of the company's stock were exchanged, compared to its average volume of 71,905. Cidara Therapeutics has a fifty-two week low of $10.14 and a fifty-two week high of $28.42. The stock has a market cap of $272.14 million, a price-to-earnings ratio of -0.85 and a beta of 0.86. The firm has a 50-day moving average price of $20.95 and a 200-day moving average price of $20.13.

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

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.