Cidara Therapeutics (NASDAQ:CDTX) Upgraded at StockNews.com

StockNews.com upgraded shares of Cidara Therapeutics (NASDAQ:CDTX) to a sell rating in a report published on Wednesday morning.

A number of other equities analysts have also weighed in on the company. Citizens Jmp initiated coverage on Cidara Therapeutics in a research note on Wednesday, March 12th. They set an “outperform” rating and a $46.00 price objective for the company. Cantor Fitzgerald raised Cidara Therapeutics to a “strong-buy” rating in a report on Wednesday, February 5th. Citigroup assumed coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They issued an “outperform” rating on the stock. JMP Securities set a $46.00 target price on shares of Cidara Therapeutics in a report on Wednesday, March 12th. Finally, HC Wainwright increased their price target on shares of Cidara Therapeutics from $24.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $39.14.

Cidara Therapeutics Stock Up 1.4 %

Cidara Therapeutics stock opened at $19.44 on Wednesday. The stock has a 50-day moving average price of $21.23 and a 200 day moving average price of $19.26. The company has a market capitalization of $212.93 million, a price-to-earnings ratio of -0.76 and a beta of 0.89. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings data on Thursday, March 6th. The biotechnology company reported ($5.38) EPS for the quarter, missing the consensus estimate of ($5.28) by ($0.10). Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%. Research analysts anticipate that Cidara Therapeutics will post -8.74 EPS for the current fiscal year.

Insider Activity at Cidara Therapeutics

In other news, insider Leslie Tari sold 1,773 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total value of $38,935.08. Following the transaction, the insider now owns 16,215 shares in the company, valued at $356,081.40. This trade represents 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 Cidara Therapeutics stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total value of $36,541.44. Following the completion of the sale, the chief operating officer now directly owns 14,674 shares in the company, valued at $322,241.04. This represents a 10.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cidara Therapeutics in the fourth quarter valued at about $56,000. Northern Trust Corp grew its stake in Cidara Therapeutics by 6.8% during the 4th quarter. Northern Trust Corp now owns 33,957 shares of the biotechnology company’s stock valued at $913,000 after acquiring an additional 2,170 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Cidara Therapeutics in the 4th quarter valued at about $165,000. Geode Capital Management LLC lifted its stake in Cidara Therapeutics by 22.7% in the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock worth $569,000 after purchasing an additional 9,771 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in Cidara Therapeutics in the 4th quarter worth approximately $339,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

About Cidara Therapeutics

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.