Cidara Therapeutics (NASDAQ:CDTX) Stock Rating Upgraded by HC Wainwright

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) was upgraded by analysts at HC Wainwright to a "buy" rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The firm presently has a $41.00 price target on the biotechnology company's stock. HC Wainwright's price objective indicates a potential upside of 95.05% from the company's current price.

Other analysts have also issued reports about the stock. Needham & Company LLC increased their target price on shares of Cidara Therapeutics from $35.00 to $36.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Wall Street Zen upgraded shares of Cidara Therapeutics to a "sell" rating in a report on Saturday, May 10th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Cidara Therapeutics in a report on Tuesday, June 10th. Citizens Jmp assumed coverage on shares of Cidara Therapeutics in a report on Wednesday, March 12th. They issued an "outperform" rating and a $46.00 price objective for the company. Finally, JMP Securities restated a "market outperform" rating and issued a $47.00 price objective on shares of Cidara Therapeutics in a report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $42.86.

Cidara Therapeutics Trading Down 1.4%

Shares of NASDAQ:CDTX traded down $0.29 on Wednesday, reaching $21.02. 392,133 shares of the company traded hands, compared to its average volume of 90,158. The business's 50-day simple moving average is $22.20 and its 200 day simple moving average is $22.01. The stock has a market capitalization of $263.80 million, a P/E ratio of -0.71 and a beta of 0.79. Cidara Therapeutics has a 52 week low of $10.14 and a 52 week high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last posted its earnings results on Thursday, May 8th. The biotechnology company reported ($1.66) earnings per share for the quarter, topping analysts' consensus estimates of ($5.45) by $3.79. Sell-side analysts expect that Cidara Therapeutics will post -8.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Cidara Therapeutics

Several large investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cidara Therapeutics during the fourth quarter valued at approximately $56,000. Northern Trust Corp lifted its holdings in shares of 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 purchasing an additional 2,170 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Cidara Therapeutics during the fourth quarter valued at approximately $165,000. OMERS ADMINISTRATION Corp increased its position in shares of Cidara Therapeutics by 53.2% during the first quarter. OMERS ADMINISTRATION Corp now owns 19,300 shares of the biotechnology company's stock valued at $416,000 after acquiring an additional 6,700 shares in the last quarter. Finally, American Century Companies Inc. purchased a new position in Cidara Therapeutics in the 1st quarter worth approximately $224,000. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

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.