Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) has been assigned a consensus recommendation of "Buy" from the four ratings firms that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $71.25.
CDTX has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Cidara Therapeutics in a research report on Tuesday. Needham & Company LLC raised their price objective on shares of Cidara Therapeutics from $3.00 to $25.00 and gave the stock a "buy" rating in a research report on Thursday. WBB Securities reaffirmed a "strong-buy" rating and set a $40.00 price objective on shares of Cidara Therapeutics in a research report on Thursday. Finally, HC Wainwright reaffirmed a "buy" rating and set a $120.00 price objective on shares of Cidara Therapeutics in a research report on Monday, April 8th.
View Our Latest Stock Analysis on CDTX
Institutional Investors Weigh In On Cidara Therapeutics
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDTX. Pale Fire Capital SE bought a new stake in shares of Cidara Therapeutics during the third quarter valued at about $51,000. Flagship Harbor Advisors LLC bought a new stake in shares of Cidara Therapeutics during the third quarter valued at about $28,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Cidara Therapeutics by 25.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company's stock valued at $75,000 after buying an additional 15,912 shares during the period. 35.82% of the stock is currently owned by institutional investors.
Cidara Therapeutics Stock Up 5.8 %
Cidara Therapeutics stock traded up $0.71 during mid-day trading on Thursday, hitting $13.00. 751,351 shares of the stock were exchanged, compared to its average volume of 48,144. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -54.17 and a beta of 0.98. Cidara Therapeutics has a 12 month low of $10.00 and a 12 month high of $29.60. The firm's fifty day simple moving average is $15.37 and its two-hundred day simple moving average is $15.33.
About Cidara Therapeutics
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Get Free ReportCidara Therapeutics, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States. The company's lead product candidate is 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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