Cidara Therapeutics Inc (NASDAQ:CDTX) has earned a consensus recommendation of “Buy” from the eleven analysts that are presently covering the stock. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $13.94.
Several brokerages have recently commented on CDTX. Raymond James Financial, Inc. began coverage on shares of Cidara Therapeutics in a research report on Thursday. They set a “strong-buy” rating and a $14.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $14.00 price objective (down from $18.00) on shares of Cidara Therapeutics in a research report on Monday. Zacks Investment Research upgraded shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, April 13th. Ladenburg Thalmann Financial Services began coverage on shares of Cidara Therapeutics in a report on Wednesday, April 12th. They issued a “buy” rating and a $11.25 price target on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $13.00 price target on shares of Cidara Therapeutics in a report on Monday, April 10th.
Cidara Therapeutics (NASDAQ:CDTX) traded up 11.90% during midday trading on Tuesday, hitting $7.05. 300,885 shares of the company were exchanged. The stock has a 50 day moving average of $7.11 and a 200-day moving average of $9.34. The stock’s market capitalization is $118.45 million. Cidara Therapeutics has a 1-year low of $6.10 and a 1-year high of $14.43.
Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings data on Wednesday, March 15th. The biotechnology company reported ($0.88) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.79) by $0.09. During the same quarter in the previous year, the company posted ($0.72) EPS. Equities analysts expect that Cidara Therapeutics will post ($3.49) earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This piece was reported by Markets Daily and is owned by of Markets Daily. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright & trademark laws. The legal version of this piece can be read at https://www.themarketsdaily.com/2017/04/21/brokerages-set-cidara-therapeutics-inc-cdtx-price-target-at-13-94.html.
In other Cidara Therapeutics news, CEO Jeffrey Stein acquired 12,900 shares of the company’s stock in a transaction 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 document filed with the SEC, which can be accessed through this link. Also, insider Kevin Forrest acquired 12,500 shares of the company’s stock in a transaction on Friday, March 31st. The stock was acquired 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. Insiders own 22.20% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of Cidara Therapeutics by 5.4% in the fourth quarter. FMR LLC now owns 1,471,553 shares of the biotechnology company’s stock worth $15,304,000 after buying an additional 75,000 shares during the last quarter. Interwest Venture Management Co. acquired a new position in shares of Cidara Therapeutics during the fourth quarter worth approximately $14,111,000. Perceptive Advisors LLC acquired a new position in shares of Cidara Therapeutics during the fourth quarter worth approximately $8,043,000. Broadfin Capital LLC boosted 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 last quarter. Finally, State Street Corp boosted its position in shares of Cidara Therapeutics by 19.8% in the fourth quarter. State Street Corp now owns 109,830 shares of the biotechnology company’s stock worth $1,142,000 after buying an additional 18,132 shares during the last quarter. 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.
Receive News & Ratings for Cidara Therapeutics Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cidara Therapeutics Inc and related companies with MarketBeat.com's FREE daily email newsletter.