Shares of Cidara Therapeutics Inc (NASDAQ:CDTX) have been assigned an average rating of “Buy” from the eleven analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $14.28.
CDTX has been the topic of a number of recent analyst reports. Cantor Fitzgerald set a $15.00 price target on Cidara Therapeutics and gave the company a “buy” rating in a report on Tuesday, November 28th. HC Wainwright lifted their price target on Cidara Therapeutics from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Finally, Zacks Investment Research raised Cidara Therapeutics from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a report on Wednesday, October 25th.
A number of large investors have recently made changes to their positions in the stock. Prosight Management LP bought a new stake in Cidara Therapeutics during the fourth quarter worth approximately $11,206,000. Broadfin Capital LLC raised its holdings in Cidara Therapeutics by 4.5% during the fourth quarter. Broadfin Capital LLC now owns 857,397 shares of the biotechnology company’s stock worth $5,830,000 after purchasing an additional 36,994 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Cidara Therapeutics by 26.2% during the fourth quarter. Renaissance Technologies LLC now owns 179,300 shares of the biotechnology company’s stock worth $1,219,000 after purchasing an additional 37,197 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in Cidara Therapeutics during the second quarter worth approximately $650,000. Finally, Eversept Partners LLC bought a new stake in Cidara Therapeutics during the fourth quarter worth approximately $340,000. 59.51% of the stock is currently owned by hedge funds and other institutional investors.
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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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