Cidara Therapeutics' (CDTX) "Market Outperform" Rating Reaffirmed at JMP Securities

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

Several other equities analysts have also commented on the stock. StockNews.com upgraded shares of Cidara Therapeutics to a "sell" rating in a research note on Wednesday, April 16th. Citizens Jmp started coverage on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. They issued an "outperform" rating and a $46.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and issued a $35.00 price target on shares of Cidara Therapeutics in a research report on Thursday, April 10th. HC Wainwright lifted their target price on Cidara Therapeutics from $24.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Finally, Citigroup initiated coverage on Cidara Therapeutics in a report on Wednesday, March 12th. They issued an "outperform" rating for the company. One analyst has rated the stock with a sell rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Cidara Therapeutics presently has an average rating of "Buy" and an average target price of $39.14.

Cidara Therapeutics Trading Down 0.3 %

Shares of CDTX stock traded down $0.06 on Tuesday, reaching $21.69. 132,650 shares of the stock were exchanged, compared to its average volume of 71,905. The company has a market capitalization of $272.14 million, a price-to-earnings ratio of -0.85 and a beta of 0.86. The business's 50 day moving average price is $20.95 and its 200 day moving average price is $20.07. 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) earnings per share (EPS) 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%. Equities research analysts forecast that Cidara Therapeutics will post -8.74 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Shane Ward sold 1,664 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 $36,541.44. Following the completion of the sale, the chief operating officer now owns 14,674 shares in the company, valued at approximately $322,241.04. This trade represents a 10.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Leslie Tari sold 1,773 shares of Cidara Therapeutics stock in a transaction dated 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 sale, the insider now directly owns 16,215 shares in the company, valued at approximately $356,081.40. The trade was 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.

Institutional Investors Weigh In On Cidara Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cidara Therapeutics during the 4th quarter worth approximately $56,000. Point72 Asset Management L.P. acquired a new position in Cidara Therapeutics during the fourth quarter worth $165,000. OMERS ADMINISTRATION Corp purchased a new position in Cidara Therapeutics in the fourth quarter worth $339,000. Jane Street Group LLC acquired a new stake in Cidara Therapeutics in the fourth quarter valued at $342,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Cidara Therapeutics during the 4th quarter worth $419,000. Hedge funds and other institutional investors own 35.82% of the company's stock.

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.