Cidara Therapeutics Inc (NASDAQ:CDTX)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a research note issued on Tuesday. They presently have a $13.00 price objective on the biotechnology company’s stock. Wedbush’s target price suggests a potential upside of 75.68% from the stock’s current price.
A number of other brokerages have also weighed in on CDTX. Needham & Company LLC lowered their target price on Cidara Therapeutics from $20.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, February 21st. BTIG Research reaffirmed a “buy” rating and set a $20.00 target price (up from $15.00) on shares of Cidara Therapeutics in a research report on Saturday, April 29th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $9.00 target price on shares of Cidara Therapeutics in a research report on Thursday, March 16th. Jefferies Group LLC reissued a “buy” rating and issued a $15.00 price target on shares of Cidara Therapeutics in a research report on Friday, March 24th. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 price target (down from $25.00) on shares of Cidara Therapeutics in a research report on Wednesday, February 22nd. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $12.77.
Cidara Therapeutics (NASDAQ:CDTX) opened at 7.40 on Tuesday. The company’s market capitalization is $124.36 million. The stock’s 50 day moving average is $7.20 and its 200 day moving average is $8.99. Cidara Therapeutics has a 52 week low of $6.10 and a 52 week high of $12.95.
Cidara Therapeutics (NASDAQ:CDTX) last issued its earnings results on Wednesday, May 10th. The biotechnology company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.10. Analysts predict that Cidara Therapeutics will post ($3.41) EPS for the current fiscal year.
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In related news, CEO Jeffrey Stein purchased 12,900 shares of the stock in a transaction that occurred on Friday, March 31st. The stock was acquired at an average cost of $7.75 per share, with a total value of $99,975.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Kevin Forrest purchased 12,500 shares of the stock in a transaction that occurred on Friday, March 31st. The stock was bought at an average cost of $7.75 per share, with a total value of $96,875.00. The disclosure for this purchase can be found here. Corporate insiders own 22.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. West Family Investments Inc. bought a new stake in Cidara Therapeutics during the first quarter worth approximately $780,000. Teachers Advisors LLC increased 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 buying an additional 2,458 shares during the period. Perceptive Advisors LLC acquired a new position in shares of Cidara Therapeutics during the fourth quarter worth about $8,043,000. Alyeska Investment Group L.P. acquired a new position in shares of Cidara Therapeutics during the fourth quarter worth about $1,040,000. Finally, Broadfin Capital LLC increased its position in shares of Cidara Therapeutics by 237.3% in the fourth quarter. Broadfin Capital LLC now owns 562,875 shares of the biotechnology company’s stock worth $5,854,000 after buying an additional 396,000 shares during the period. 47.34% 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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