Cidara Therapeutics (NASDAQ:CDTX) Earns "Market Outperform" Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of Cidara Therapeutics (NASDAQ:CDTX - Free Report) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $46.00 price target on the biotechnology company's stock.

CDTX has been the topic of several other research reports. Citigroup assumed coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They issued an "outperform" rating on the stock. StockNews.com upgraded shares of Cidara Therapeutics to a "sell" rating in a research report on Wednesday, April 16th. Needham & Company LLC reaffirmed a "buy" rating and issued a $35.00 price objective on shares of Cidara Therapeutics in a research report on Thursday, April 10th. HC Wainwright upped their price objective on Cidara Therapeutics from $24.00 to $35.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Finally, Citizens Jmp began coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They issued an "outperform" rating and a $46.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $39.14.

Cidara Therapeutics Stock Up 1.3 %

NASDAQ:CDTX traded up $0.28 during trading hours on Tuesday, hitting $22.03. 44,805 shares of the company traded hands, compared to its average volume of 71,548. The company has a market cap of $241.31 million, a PE ratio of -0.86 and a beta of 0.89. The firm's 50-day simple moving average is $20.94 and its 200-day simple moving average is $19.93. Cidara Therapeutics has a one year low of $10.14 and a one year high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last posted its quarterly earnings data 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%. As a group, equities research analysts expect that Cidara Therapeutics will post -8.74 EPS for the current year.

Insider Activity at Cidara Therapeutics

In other news, insider Leslie Tari sold 1,773 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total transaction of $38,935.08. Following the sale, the insider now directly 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Shane Ward sold 1,664 shares of the stock in a transaction dated Tuesday, March 11th. The stock was 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 directly owns 14,674 shares in the company, valued at approximately $322,241.04. The trade was a 10.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CDTX. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cidara Therapeutics in the fourth quarter valued at approximately $56,000. Point72 Asset Management L.P. purchased a new position in Cidara Therapeutics in the 4th quarter worth approximately $165,000. OMERS ADMINISTRATION Corp bought a new stake in Cidara Therapeutics in the fourth quarter valued at approximately $339,000. Jane Street Group LLC purchased a new stake in shares of Cidara Therapeutics during the fourth quarter valued at approximately $342,000. Finally, Boothbay Fund Management LLC bought a new position in shares of Cidara Therapeutics in the fourth quarter worth approximately $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.