Cidara Therapeutics (NASDAQ:CDTX) Sees Strong Trading Volume - Still a Buy?

Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) saw an uptick in trading volume on Thursday . 235,849 shares were traded during trading, an increase of 63% from the previous session's volume of 144,914 shares.The stock last traded at $48.79 and had previously closed at $49.33.

Analysts Set New Price Targets

Several research firms recently commented on CDTX. Citizens Jmp began coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating and a $46.00 price objective on the stock. WBB Securities reaffirmed a "strong-buy" rating and set a $45.00 price objective on shares of Cidara Therapeutics in a research report on Monday. HC Wainwright reaffirmed a "buy" rating on shares of Cidara Therapeutics in a research report on Monday. Royal Bank Of Canada reissued an "outperform" rating on shares of Cidara Therapeutics in a research report on Tuesday. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Cidara Therapeutics in a research report on Tuesday, June 10th. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $53.71.

Cidara Therapeutics Price Performance

The firm has a market capitalization of $602.78 million, a PE ratio of -1.63 and a beta of 0.79. The firm has a 50-day simple moving average of $24.44 and a 200-day simple moving average of $22.70.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cidara Therapeutics in the fourth quarter worth about $56,000. Point72 Asset Management L.P. bought a new position in shares of Cidara Therapeutics in the fourth quarter worth about $165,000. American Century Companies Inc. bought a new position in shares of Cidara Therapeutics in the first quarter worth about $224,000. West Michigan Advisors LLC bought a new position in shares of Cidara Therapeutics in the first quarter worth about $291,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Cidara Therapeutics in the fourth quarter worth about $339,000. 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.