HC Wainwright Begins Coverage on Cidara Therapeutics (NASDAQ:CDTX)

Stock analysts at HC Wainwright initiated coverage on shares of Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm set a "buy" rating and a $41.00 price target on the biotechnology company's stock. HC Wainwright's target price would indicate a potential upside of 85.52% from the company's previous close.

CDTX has been the subject of a number of other reports. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $35.00 price target (up from $31.00) on shares of Cidara Therapeutics in a report on Friday, May 23rd. Citizens Jmp began coverage on Cidara Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating and a $46.00 target price for the company. Needham & Company LLC upped their price target on Cidara Therapeutics from $35.00 to $36.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Citigroup began coverage on shares of Cidara Therapeutics in a research note on Wednesday, March 12th. They issued an "outperform" rating on the stock. Finally, JMP Securities reissued a "market outperform" rating and set a $47.00 price objective on shares of Cidara Therapeutics in a report on Monday, June 2nd. 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 company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $42.86.

Cidara Therapeutics Stock Down 1.4%

Shares of NASDAQ:CDTX opened at $22.10 on Wednesday. Cidara Therapeutics has a fifty-two week low of $10.14 and a fifty-two week high of $28.42. The firm's 50 day moving average price is $21.99 and its 200 day moving average price is $21.96. The stock has a market cap of $277.36 million, a price-to-earnings ratio of -0.75 and a beta of 0.79.

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

Institutional Investors Weigh In On Cidara Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cidara Therapeutics during the fourth quarter worth approximately $56,000. Point72 Asset Management L.P. purchased a new position in Cidara Therapeutics during the 4th quarter worth $165,000. American Century Companies Inc. purchased a new position in Cidara Therapeutics during the 1st quarter worth $224,000. West Michigan Advisors LLC acquired a new position in Cidara Therapeutics in the first quarter valued at $291,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Cidara Therapeutics in the fourth quarter valued at about $339,000. 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.