Cidara Therapeutics (NASDAQ:CDTX) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• Cidara Therapeutics (NASDAQ:CDTX) has received a "sell (D-)" rating from Weiss Ratings, reflecting concerns about its stock performance.
• The stock is currently trading at $93.12, down 3.2%, with an average target price from analysts of $151.33, indicating a potential upside.
• Despite the bearish rating from Weiss, most analysts have rated the stock positively, with ten giving it a "buy" and one a "strong buy" rating.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report)'s stock had its "sell (d-)" rating restated by Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

A number of other research analysts have also weighed in on CDTX. Royal Bank Of Canada set a $137.00 price objective on Cidara Therapeutics and gave the stock an "outperform" rating in a report on Wednesday, September 24th. Guggenheim set a $167.00 price objective on Cidara Therapeutics and gave the stock a "buy" rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. initiated coverage on Cidara Therapeutics in a research report on Friday, October 10th. They set an "overweight" rating and a $200.00 target price on the stock. JMP Securities set a $173.00 target price on Cidara Therapeutics and gave the stock a "market outperform" rating in a research report on Friday, October 3rd. Finally, HC Wainwright reiterated a "buy" rating and set a $150.00 target price on shares of Cidara Therapeutics in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $151.33.

Cidara Therapeutics Stock Down 3.2%

CDTX stock traded down $3.04 on Friday, reaching $93.12. 652,075 shares of the company's stock were exchanged, compared to its average volume of 1,113,007. The stock has a fifty day moving average of $81.54 and a 200-day moving average of $51.91. Cidara Therapeutics has a twelve month low of $11.28 and a twelve month high of $121.21. The firm has a market cap of $2.36 billion, a PE ratio of -8.37 and a beta of 1.33.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($1.65) earnings per share for the quarter, topping analysts' consensus estimates of ($1.87) by $0.22. On average, equities research analysts predict that Cidara Therapeutics will post -8.74 EPS for the current fiscal year.

Insider Activity

In other news, insider Nicole Negar Davarpanah sold 474 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $62.86, for a total value of $29,795.64. Following the sale, the insider directly owned 31,418 shares in the company, valued at $1,974,935.48. This represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.89% of the stock is owned by corporate insiders.

Institutional Trading of Cidara Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Amalgamated Bank purchased a new stake in shares of Cidara Therapeutics in the second quarter valued at $28,000. Trifecta Capital Advisors LLC purchased a new stake in shares of Cidara Therapeutics in the second quarter valued at $49,000. California State Teachers Retirement System purchased a new stake in shares of Cidara Therapeutics in the second quarter valued at $51,000. Legal & General Group Plc purchased a new stake in shares of Cidara Therapeutics in the second quarter valued at $73,000. Finally, Tower Research Capital LLC TRC lifted its position in Cidara Therapeutics by 66.8% during the second quarter. Tower Research Capital LLC TRC now owns 1,556 shares of the biotechnology company's stock worth $76,000 after buying an additional 623 shares during the period. 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.

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