Cidara Therapeutics (NASDAQ:CDTX) Earns "Overweight" Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Cidara Therapeutics (NASDAQ:CDTX - Free Report) in a research report released on Tuesday,Benzinga reports.

Other equities research analysts have also issued reports about the company. Citizens Jmp assumed coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating and a $46.00 price target on the stock. Needham & Company LLC upped their price objective on Cidara Therapeutics from $35.00 to $36.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Wall Street Zen upgraded Cidara Therapeutics to a "sell" rating in a report on Saturday, May 10th. Citigroup started coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating on the stock. Finally, JMP Securities restated a "market outperform" rating and set a $47.00 price target on shares of Cidara Therapeutics in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $42.00.

Cidara Therapeutics Stock Down 1.3%

Shares of CDTX traded down $0.33 on Tuesday, hitting $25.84. 221,044 shares of the stock traded hands, compared to its average volume of 85,694. The firm has a market capitalization of $324.21 million, a P/E ratio of -1.01 and a beta of 0.79. The stock's 50 day moving average is $21.33 and its two-hundred day moving average is $21.83. Cidara Therapeutics has a 1 year low of $10.14 and a 1 year high of $28.42.

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

Institutional Trading of Cidara Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cidara Therapeutics during the 4th quarter worth about $56,000. Point72 Asset Management L.P. bought a new stake in shares of Cidara Therapeutics during the fourth quarter valued at about $165,000. American Century Companies Inc. bought a new stake in Cidara Therapeutics during the first quarter valued at approximately $224,000. West Michigan Advisors LLC bought a new position in Cidara Therapeutics during the first quarter valued at approximately $291,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Cidara Therapeutics in the fourth quarter worth $339,000. 35.82% of the stock is currently owned by institutional investors.

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.