Cidara Therapeutics (NASDAQ:CDTX) Given "Buy" Rating at HC Wainwright

Key Points

• HC Wainwright has restated a "buy" rating for Cidara Therapeutics (NASDAQ:CDTX), with a price target of $150.00, representing a potential upside of 47.34% from the current stock price.
• Analysts' ratings for Cidara Therapeutics are generally positive, with one Strong Buy, ten Buy, and one Sell rating, leading to a consensus price target of $151.33.
• Shares of Cidara Therapeutics recently traded at $101.81, up 1.2%, with a significant market capitalization of $2.58 billion and a reported earnings loss of ($1.65) EPS, exceeding estimates.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report)'s stock had its "buy" rating restated by HC Wainwright in a report released on Tuesday,Benzinga reports. They currently have a $150.00 price target on the biotechnology company's stock. HC Wainwright's target price indicates a potential upside of 47.34% from the stock's current price.

Several other research analysts have also recently commented on CDTX. Morgan Stanley assumed coverage on Cidara Therapeutics in a research note on Thursday, October 16th. They issued an "overweight" rating and a $190.00 price target on the stock. Needham & Company LLC boosted their price target on Cidara Therapeutics from $74.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Weiss Ratings restated a "sell (d-)" rating on shares of Cidara Therapeutics in a research note on Wednesday, October 8th. JMP Securities set a $173.00 price objective on Cidara Therapeutics and gave the company a "market outperform" rating in a research note on Friday, October 3rd. Finally, JPMorgan Chase & Co. initiated coverage on Cidara Therapeutics in a research note on Friday, October 10th. They set an "overweight" rating and a $200.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cidara Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $151.33.

Cidara Therapeutics Stock Up 1.2%

Shares of NASDAQ CDTX traded up $1.25 on Tuesday, hitting $101.81. The company had a trading volume of 292,736 shares, compared to its average volume of 491,485. Cidara Therapeutics has a 12-month low of $11.07 and a 12-month high of $121.21. The business has a 50 day moving average of $78.78 and a two-hundred day moving average of $50.13. The firm has a market capitalization of $2.58 billion, a P/E ratio of -9.15 and a beta of 1.33.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.65) EPS for the quarter, topping the consensus estimate of ($1.87) by $0.22. On average, sell-side analysts anticipate that Cidara Therapeutics will post -8.74 earnings per share for the current year.

Insider Transactions at Cidara Therapeutics

In related news, insider Nicole Negar Davarpanah sold 474 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $62.86, for a total value of $29,795.64. Following the completion of the transaction, the insider directly owned 31,418 shares of the company's stock, valued at $1,974,935.48. This represents a 1.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cidara Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDTX. American Century Companies Inc. purchased a new stake in shares of Cidara Therapeutics in the first quarter valued at $224,000. Goldman Sachs Group Inc. lifted its holdings in shares of Cidara Therapeutics by 203.8% in the first quarter. Goldman Sachs Group Inc. now owns 42,143 shares of the biotechnology company's stock valued at $908,000 after purchasing an additional 28,273 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Cidara Therapeutics by 167.6% in the first 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 purchasing an additional 620,046 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its holdings in shares of Cidara Therapeutics by 53.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 19,300 shares of the biotechnology company's stock valued at $416,000 after purchasing an additional 6,700 shares in the last quarter. Finally, Aberdeen Group plc purchased a new stake in shares of Cidara Therapeutics in the first quarter valued at $2,604,000. 35.82% of the stock is 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.

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