Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) was upgraded by equities researchers at StockNews.com to a "sell" rating in a research report issued to clients and investors on Saturday.
Other equities research analysts have also issued reports about the company. HC Wainwright upped their price objective on Cidara Therapeutics from $24.00 to $35.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Citigroup assumed coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They issued an "outperform" rating on the stock. Needham & Company LLC restated a "buy" rating and issued a $35.00 target price on shares of Cidara Therapeutics in a research note on Thursday, April 10th. Guggenheim increased their target price on shares of Cidara Therapeutics from $33.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Citizens Jmp initiated coverage on shares of Cidara Therapeutics in a report on Wednesday, March 12th. They set an "outperform" rating and a $46.00 price target for the company. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Cidara Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $39.57.
View Our Latest Research Report on Cidara Therapeutics
Cidara Therapeutics Price Performance
Shares of CDTX stock opened at $18.50 on Friday. Cidara Therapeutics has a one year low of $10.14 and a one year high of $28.42. The stock has a fifty day moving average price of $20.56 and a 200 day moving average price of $20.30. The stock has a market cap of $232.12 million, a P/E ratio of -0.72 and a beta of 0.86.
Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($1.66) EPS for the quarter, topping analysts' consensus estimates of ($5.45) by $3.79. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%. Equities research analysts anticipate that Cidara Therapeutics will post -8.74 EPS for the current year.
Insiders Place Their Bets
In other news, insider Leslie Tari sold 1,773 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total transaction of $38,935.08. Following the completion of the sale, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Shane Ward sold 1,664 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total value of $36,541.44. Following the transaction, the chief operating officer now directly owns 14,674 shares in the company, valued at $322,241.04. This trade represents a 10.18 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.89% of the company's stock.
Institutional Investors Weigh In On Cidara Therapeutics
Institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in Cidara Therapeutics in the fourth quarter valued at approximately $56,000. Point72 Asset Management L.P. acquired a new position in shares of Cidara Therapeutics in the 4th quarter valued at $165,000. OMERS ADMINISTRATION Corp bought a new position in shares of Cidara Therapeutics in the 4th quarter worth $339,000. Jane Street Group LLC acquired a new stake in shares of Cidara Therapeutics during the fourth quarter worth $342,000. Finally, West Michigan Advisors LLC bought a new stake in Cidara Therapeutics in the first quarter valued at about $291,000. Institutional investors and hedge funds own 35.82% of the company's stock.
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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