Cidara Therapeutics (NASDAQ:CDTX) Given "Market Outperform" Rating at JMP Securities

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report)'s stock had its "market outperform" rating restated by JMP Securities in a report released on Monday,Benzinga reports. They currently have a $59.00 price objective on the biotechnology company's stock. JMP Securities' price objective would indicate a potential upside of 19.31% from the stock's previous close.

A number of other equities analysts also recently commented on CDTX. WBB Securities restated a "strong-buy" rating and issued a $45.00 price objective on shares of Cidara Therapeutics in a report on Monday, June 23rd. Guggenheim set a $68.00 target price on shares of Cidara Therapeutics and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Citizens Jmp initiated coverage on shares of Cidara Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating and a $46.00 price target on the stock. Citigroup started coverage on shares of Cidara Therapeutics in a research note on Wednesday, March 12th. They issued an "outperform" rating for the company. Finally, Needham & Company LLC increased their target price on shares of Cidara Therapeutics from $36.00 to $54.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Cidara Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $57.14.

Cidara Therapeutics Stock Up 3.0%

Cidara Therapeutics stock opened at $49.45 on Monday. Cidara Therapeutics has a 12 month low of $10.14 and a 12 month high of $56.83. The stock has a market cap of $603.78 million, a P/E ratio of -1.68 and a beta of 0.79. The company's fifty day simple moving average is $25.04 and its 200-day simple moving average is $22.91.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($1.66) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($5.45) by $3.79. On average, equities research analysts expect that Cidara Therapeutics will post -8.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cidara Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Cidara Therapeutics during the fourth quarter valued at about $56,000. Northern Trust Corp increased its stake in Cidara Therapeutics by 6.8% during the fourth quarter. Northern Trust Corp now owns 33,957 shares of the biotechnology company's stock valued at $913,000 after acquiring an additional 2,170 shares during the period. Point72 Asset Management L.P. acquired a new position in Cidara Therapeutics in the 4th quarter valued at approximately $165,000. OMERS ADMINISTRATION Corp lifted its position in shares of Cidara Therapeutics by 53.2% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 19,300 shares of the biotechnology company's stock worth $416,000 after acquiring an additional 6,700 shares during the period. Finally, American Century Companies Inc. acquired a new stake in shares of Cidara Therapeutics during the 1st quarter worth approximately $224,000. Institutional investors and hedge funds 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.

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