Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have been assigned a consensus recommendation of “Buy” from the twelve brokerages that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $14.36.
A number of analysts have commented on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and set a $15.00 price objective on shares of Cidara Therapeutics in a research note on Tuesday, September 26th. ValuEngine lowered shares of Cidara Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Zacks Investment Research lowered shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, WBB Securities raised shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 11th.
Shares of Cidara Therapeutics (NASDAQ:CDTX) traded down 2.90% during midday trading on Thursday, hitting $6.70. 62,635 shares of the stock were exchanged. The stock’s 50-day moving average price is $7.29 and its 200 day moving average price is $7.06. The stock’s market cap is $112.98 million. Cidara Therapeutics has a one year low of $5.60 and a one year high of $11.85.
Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings data on Wednesday, August 9th. The biotechnology company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.08). On average, analysts anticipate that Cidara Therapeutics will post ($3.62) earnings per share for the current year.
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In related news, CEO Jeffrey Stein purchased 7,350 shares of Cidara Therapeutics stock in a transaction dated Tuesday, September 12th. The stock was acquired at an average cost of $6.79 per share, with a total value of $49,906.50. Following the completion of the transaction, the chief executive officer now directly owns 51,851 shares of the company’s stock, valued at $352,068.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.90% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. TIAA CREF Investment Management LLC lifted its position in shares of Cidara Therapeutics by 4.9% in the first quarter. TIAA CREF Investment Management LLC now owns 39,065 shares of the biotechnology company’s stock worth $305,000 after purchasing an additional 1,840 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of Cidara Therapeutics by 17.5% in the fourth quarter. Teachers Advisors LLC now owns 16,524 shares of the biotechnology company’s stock worth $172,000 after purchasing an additional 2,458 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Cidara Therapeutics by 6.7% in the first quarter. Bank of New York Mellon Corp now owns 42,350 shares of the biotechnology company’s stock worth $330,000 after purchasing an additional 2,647 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Cidara Therapeutics in the second quarter worth approximately $110,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Cidara Therapeutics in the second quarter worth approximately $129,000. 66.10% of the stock is owned by institutional investors and hedge funds.
About Cidara Therapeutics
Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.
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