Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) shot up 5.9% during trading on Friday after HC Wainwright raised their price target on the stock from $74.00 to $110.00. HC Wainwright currently has a buy rating on the stock. Cidara Therapeutics traded as high as $90.85 and last traded at $89.78. 819,161 shares traded hands during mid-day trading, an increase of 90% from the average session volume of 430,717 shares. The stock had previously closed at $84.76.
CDTX has been the subject of a number of other reports. JMP Securities set a $153.00 price objective on Cidara Therapeutics in a research report on Wednesday. Needham & Company LLC boosted their price objective on Cidara Therapeutics from $74.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday. Cantor Fitzgerald reissued an "overweight" rating on shares of Cidara Therapeutics in a research report on Tuesday, June 10th. Citigroup reissued an "outperform" rating on shares of Cidara Therapeutics in a research report on Wednesday. Finally, Royal Bank Of Canada set a $137.00 price objective on Cidara Therapeutics and gave the stock an "outperform" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $119.43.
Check Out Our Latest Report on Cidara Therapeutics
Insider Transactions at Cidara Therapeutics
In other news, insider Nicole Negar Davarpanah sold 474 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 31,418 shares of the company's stock, valued at approximately $1,974,935.48. This represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.89% of the stock is owned by company insiders.
Institutional Investors Weigh In On Cidara Therapeutics
Large investors have recently modified their holdings of the stock. Amalgamated Bank purchased a new stake in shares of Cidara Therapeutics during the second quarter worth approximately $28,000. Trifecta Capital Advisors LLC purchased a new stake in shares of Cidara Therapeutics during the second quarter worth approximately $49,000. California State Teachers Retirement System purchased a new stake in shares of Cidara Therapeutics during the second quarter worth approximately $51,000. Legal & General Group Plc purchased a new position in Cidara Therapeutics in the second quarter worth $73,000. Finally, Tower Research Capital LLC TRC raised its position in Cidara Therapeutics by 66.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,556 shares of the biotechnology company's stock worth $76,000 after acquiring an additional 623 shares in the last quarter. Hedge funds and other institutional investors own 35.82% of the company's stock.
Cidara Therapeutics Price Performance
The company has a 50-day simple moving average of $65.12 and a 200-day simple moving average of $40.26. The stock has a market cap of $2.28 billion, a PE ratio of -8.06 and a beta of 1.29.
Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($1.65) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.87) by $0.22. On average, equities analysts expect that Cidara Therapeutics, Inc. will post -8.74 EPS for the current fiscal year.
About Cidara Therapeutics
(
Get Free Report)
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.
Further Reading
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