Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) had its target price upped by investment analysts at Needham & Company LLC from $36.00 to $54.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the biotechnology company's stock. Needham & Company LLC's target price points to a potential upside of 32.56% from the company's current price.
Several other brokerages also recently weighed in on CDTX. JMP Securities reiterated a "market outperform" rating and set a $47.00 target price on shares of Cidara Therapeutics in a research note on Monday, June 2nd. Citigroup initiated coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They set an "outperform" rating for the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of Cidara Therapeutics in a research note on Tuesday, June 10th. WBB Securities restated a "strong-buy" rating and set a $45.00 price target on shares of Cidara Therapeutics in a research note on Monday. Finally, Citizens Jmp assumed coverage on Cidara Therapeutics in a report on Wednesday, March 12th. They set an "outperform" rating and a $46.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.43.
View Our Latest Analysis on Cidara Therapeutics
Cidara Therapeutics Stock Up 93.8%
Cidara Therapeutics stock traded up $19.72 during mid-day trading on Monday, hitting $40.74. The company had a trading volume of 3,971,009 shares, compared to its average volume of 106,435. Cidara Therapeutics has a 1 year low of $10.14 and a 1 year high of $46.84. The business has a fifty day moving average of $22.20 and a 200 day moving average of $22.02. The stock has a market cap of $511.22 million, a price-to-earnings ratio of -1.38 and a beta of 0.79.
Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last issued its quarterly earnings data 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 anticipate that Cidara Therapeutics will post -8.74 earnings per share for the current year.
Institutional Investors Weigh In On Cidara Therapeutics
Large investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in Cidara Therapeutics in the 4th quarter valued at about $56,000. Point72 Asset Management L.P. acquired a new position in shares of Cidara Therapeutics in the fourth quarter valued at approximately $165,000. American Century Companies Inc. purchased a new position in shares of Cidara Therapeutics during the first quarter valued at approximately $224,000. West Michigan Advisors LLC acquired a new stake in Cidara Therapeutics during the first quarter worth approximately $291,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Cidara Therapeutics in the 4th quarter worth approximately $339,000. Institutional investors and hedge funds 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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