Cidara Therapeutics, Inc. (NASDAQ:CDTX) Receives $41.86 Average PT from Analysts

Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) has been assigned a consensus rating of "Buy" from the nine analysts that are currently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $41.86.

A number of analysts have recently issued reports on CDTX shares. Needham & Company LLC restated a "buy" rating and set a $35.00 price target on shares of Cidara Therapeutics in a report on Friday, May 23rd. Citizens Jmp started coverage on shares of Cidara Therapeutics in a report on Wednesday, March 12th. They set an "outperform" rating and a $46.00 price target for the company. HC Wainwright raised their price target on shares of Cidara Therapeutics from $24.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, March 10th. JMP Securities restated a "market outperform" rating and set a $47.00 price target on shares of Cidara Therapeutics in a report on Tuesday. Finally, Wall Street Zen upgraded shares of Cidara Therapeutics to a "sell" rating in a report on Saturday, May 10th.

Insider Activity at Cidara Therapeutics

In related news, insider Leslie Tari sold 1,773 shares of Cidara Therapeutics stock in a transaction that occurred 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 completion of the sale, the insider now owns 16,215 shares in the company, valued at approximately $356,081.40. This trade represents a 9.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Shane Ward sold 1,664 shares of Cidara Therapeutics 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 $36,541.44. Following the completion of the sale, the chief operating officer now owns 14,674 shares of the company's stock, valued at $322,241.04. This trade represents a 10.18% decrease in their position. The disclosure for this sale can be found here. 7.64% of the stock is owned by insiders.

Institutional Trading of Cidara Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC boosted its position in Cidara Therapeutics by 119.0% in the 1st quarter. Jane Street Group LLC now owns 27,849 shares of the biotechnology company's stock valued at $600,000 after buying an additional 15,135 shares during the period. Goldman Sachs Group Inc. boosted its position in Cidara Therapeutics by 203.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 42,143 shares of the biotechnology company's stock valued at $908,000 after buying an additional 28,273 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in Cidara Therapeutics by 167.6% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 990,000 shares of the biotechnology company's stock valued at $21,325,000 after buying an additional 620,046 shares during the period. Vestal Point Capital LP purchased a new position in Cidara Therapeutics in the 1st quarter valued at approximately $10,868,000. Finally, OMERS ADMINISTRATION Corp boosted its position in Cidara Therapeutics by 53.2% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 19,300 shares of the biotechnology company's stock valued at $416,000 after buying an additional 6,700 shares during the period. Institutional investors and hedge funds own 35.82% of the company's stock.

Cidara Therapeutics Stock Up 0.2%

CDTX traded up $0.04 during trading on Tuesday, reaching $22.06. The company's stock had a trading volume of 116,386 shares, compared to its average volume of 80,285. The firm has a fifty day simple moving average of $20.74 and a two-hundred day simple moving average of $21.43. Cidara Therapeutics has a 1 year low of $10.14 and a 1 year high of $28.42. The company has a market cap of $276.79 million, a price-to-earnings ratio of -0.86 and a beta of 0.86.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last released its earnings results on Thursday, May 8th. The biotechnology company reported ($1.66) earnings per share for the quarter, topping analysts' consensus estimates of ($5.45) by $3.79. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%. As a group, equities analysts forecast that Cidara Therapeutics will post -8.74 EPS for the current fiscal year.

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.