StockNews.com upgraded shares of Cidara Therapeutics (NASDAQ:CDTX - Free Report) to a sell rating in a research note issued to investors on Wednesday morning.
Other equities analysts have also issued research reports about the stock. JMP Securities set a $46.00 target price on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. HC Wainwright lifted their price objective on shares of Cidara Therapeutics from $24.00 to $35.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Needham & Company LLC restated a "buy" rating and set a $35.00 target price on shares of Cidara Therapeutics in a research report on Thursday, April 10th. Citigroup began coverage on Cidara Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating on the stock. Finally, Cantor Fitzgerald upgraded Cidara Therapeutics to a "strong-buy" rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $39.14.
Read Our Latest Stock Analysis on Cidara Therapeutics
Cidara Therapeutics Stock Up 1.4 %
Cidara Therapeutics stock traded up $0.26 during mid-day trading on Wednesday, reaching $19.44. 112,586 shares of the company's stock were exchanged, compared to its average volume of 75,645. The business's fifty day simple moving average is $21.23 and its 200 day simple moving average is $19.38. Cidara Therapeutics has a one year low of $10.00 and a one year high of $28.42. The firm has a market capitalization of $212.93 million, a PE ratio of -0.76 and a beta of 0.89.
Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last released its earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) EPS for the quarter, missing analysts' consensus estimates of ($5.28) by ($0.10). Cidara Therapeutics had a negative return on equity of 69.64% and a negative net margin of 289.05%. On average, sell-side analysts forecast that Cidara Therapeutics will post -8.74 earnings per share for the current year.
Insiders Place Their Bets
In other news, COO Shane Ward sold 1,664 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total transaction of $36,541.44. Following the completion of the sale, the chief operating officer now directly owns 14,674 shares in the company, valued at approximately $322,241.04. This represents a 10.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Leslie Tari sold 1,773 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total value of $38,935.08. Following the completion of the sale, the insider now directly owns 16,215 shares in the company, valued at $356,081.40. The trade was a 9.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.64% of the stock is owned by insiders.
Hedge Funds Weigh In On Cidara Therapeutics
A number of hedge funds and other institutional investors have recently made changes to their positions in CDTX. Geode Capital Management LLC lifted its position in shares of Cidara Therapeutics by 22.7% in the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company's stock worth $569,000 after purchasing an additional 9,771 shares during the period. ADAR1 Capital Management LLC purchased a new stake in Cidara Therapeutics in the fourth quarter worth about $670,000. OMERS ADMINISTRATION Corp bought a new stake in Cidara Therapeutics during the 4th quarter valued at approximately $339,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cidara Therapeutics during the 4th quarter worth approximately $56,000. Finally, Stempoint Capital LP bought a new position in shares of Cidara Therapeutics in the 4th quarter worth approximately $1,281,000. Institutional investors own 35.82% of the company's stock.
Cidara Therapeutics Company Profile
(
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.
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