Cidara Therapeutics (NASDAQ:CDTX) Given New $54.00 Price Target at Needham & Company LLC

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) had its target price increased by Needham & Company LLC from $36.00 to $54.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the biotechnology company's stock. Needham & Company LLC's price objective would indicate a potential upside of 12.43% from the stock's previous close.

Other research analysts also recently issued reports about the stock. JMP Securities restated a "market outperform" rating and issued a $47.00 target price on shares of Cidara Therapeutics in a research note on Monday, June 2nd. HC Wainwright raised shares of Cidara Therapeutics to a "buy" rating and set a $41.00 price objective for the company in a research report on Wednesday, June 18th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Cidara Therapeutics in a research report on Tuesday, June 10th. Wall Street Zen upgraded Cidara Therapeutics to a "sell" rating in a research note on Saturday, May 10th. Finally, WBB Securities restated a "strong-buy" rating and set a $45.00 price objective on shares of Cidara Therapeutics in a research note on Monday. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.71.

Cidara Therapeutics Price Performance

NASDAQ CDTX traded down $1.30 during trading hours on Monday, hitting $48.03. The company had a trading volume of 1,937,866 shares, compared to its average volume of 152,027. The firm's 50 day moving average is $24.44 and its 200 day moving average is $22.70. Cidara Therapeutics has a fifty-two week low of $10.14 and a fifty-two week high of $56.83. The company has a market capitalization of $602.78 million, a price-to-earnings ratio of -1.63 and a beta of 0.79.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Cidara Therapeutics in the 4th quarter worth approximately $56,000. Point72 Asset Management L.P. bought a new position in Cidara Therapeutics during the fourth quarter worth $165,000. American Century Companies Inc. acquired a new position in Cidara Therapeutics in the first quarter worth $224,000. OMERS ADMINISTRATION Corp bought a new stake in Cidara Therapeutics during the fourth quarter valued at $339,000. Finally, Jane Street Group LLC bought a new stake in Cidara Therapeutics during the fourth quarter valued at $342,000. 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.