Wedbush Reiterates Outperform Rating for Cidara Therapeutics Inc (CDTX)

Cidara Therapeutics Inc (NASDAQ:CDTX)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a note issued to investors on Thursday. They currently have a $13.00 price target on the biotechnology company’s stock. Wedbush’s price objective would indicate a potential upside of 81.82% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed a “buy” rating and set a $9.00 price target on shares of Cidara Therapeutics in a research report on Thursday. HC Wainwright began coverage on shares of Cidara Therapeutics in a research report on Monday, December 19th. They set a “buy” rating and a $25.00 price target on the stock. BTIG Research reaffirmed a “positive” rating and set a $24.00 price target on shares of Cidara Therapeutics in a research report on Wednesday, January 4th. Needham & Company LLC reduced their price target on shares of Cidara Therapeutics from $20.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, February 21st. Finally, Zacks Investment Research raised shares of Cidara Therapeutics from a “sell” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Thursday, February 23rd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Cidara Therapeutics has an average rating of “Buy” and a consensus price target of $13.28.

Analyst Recommendations for Cidara Therapeutics (NASDAQ:CDTX)

Shares of Cidara Therapeutics (NASDAQ:CDTX) opened at 7.15 on Thursday. Cidara Therapeutics has a one year low of $6.65 and a one year high of $15.91. The stock’s market cap is $119.21 million. The firm has a 50-day moving average price of $8.64 and a 200-day moving average price of $10.08.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings results on Wednesday, March 15th. The biotechnology company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by $0.09. During the same period last year, the company earned ($0.72) EPS. Analysts anticipate that Cidara Therapeutics will post ($3.11) earnings per share for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in the company. Perceptive Advisors LLC acquired a new stake in Cidara Therapeutics during the fourth quarter valued at $8,043,000. Alyeska Investment Group L.P. acquired a new stake in Cidara Therapeutics during the fourth quarter valued at $1,040,000. Broadfin Capital LLC raised its stake in Cidara Therapeutics by 237.3% in the fourth quarter. Broadfin Capital LLC now owns 562,875 shares of the biotechnology company’s stock valued at $5,854,000 after buying an additional 396,000 shares during the period. Renaissance Technologies LLC raised its stake in Cidara Therapeutics by 14.7% in the fourth quarter. Renaissance Technologies LLC now owns 49,900 shares of the biotechnology company’s stock valued at $519,000 after buying an additional 6,400 shares during the period. Finally, FMR LLC raised its stake in Cidara Therapeutics by 5.4% in the fourth quarter. FMR LLC now owns 1,471,553 shares of the biotechnology company’s stock valued at $15,304,000 after buying an additional 75,000 shares during the period. Hedge funds and other institutional investors own 47.34% of the company’s stock.

Cidara Therapeutics Company Profile

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.

5 Day Chart for NASDAQ:CDTX

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