Cidara Therapeutics, Inc. (NASDAQ:CDTX) Given Consensus Rating of “Buy” by Brokerages

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have received a consensus recommendation of “Buy” from the four analysts that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $71.25.

Several research analysts have recently issued reports on CDTX shares. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 target price on shares of Cidara Therapeutics in a research note on Monday, April 8th. WBB Securities reaffirmed a “strong-buy” rating and set a $40.00 target price on shares of Cidara Therapeutics in a report on Thursday. Cantor Fitzgerald reissued an “overweight” rating on shares of Cidara Therapeutics in a research note on Tuesday. Finally, Needham & Company LLC lifted their price objective on Cidara Therapeutics from $3.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday.

Cidara Therapeutics Trading Up 5.8 %

Cidara Therapeutics stock traded up $0.71 during mid-day trading on Thursday, hitting $13.00. The stock had a trading volume of 751,351 shares, compared to its average volume of 48,125. The stock has a 50-day simple moving average of $15.37 and a two-hundred day simple moving average of $15.33. The stock has a market capitalization of $1.19 billion, a PE 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDTX. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Cidara Therapeutics by 25.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 15,912 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Cidara Therapeutics during the 3rd quarter worth approximately $28,000. Finally, Pale Fire Capital SE bought a new position in Cidara Therapeutics in the third quarter valued at approximately $51,000. 35.82% of the stock is owned by institutional investors and hedge funds.

About Cidara Therapeutics

Cidara 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.