Cidara Therapeutics (CDTX) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Cidara Therapeutics (NASDAQ:CDTX) from a hold rating to a buy rating in a research note released on Tuesday. Zacks Investment Research currently has $7.75 price objective on the biotechnology company’s stock.

According to Zacks, “Cidara Therapeutics, Inc. is a biotechnology company. The company is focused on the discovery, development and commercialization of novel anti-infectives. Its product pipeline includes CD101 IV, a long-acting echinocandin antifungal, CD101 topical and C001 which are in different clinical trial. The company developed its product using Cloudbreak(TM) immunotherapy platform. Cidara Therapeutics, Inc. is headquartered in San Diego, California. “

Other research analysts also recently issued research reports about the stock. HC Wainwright raised their price target on shares of Cidara Therapeutics from $14.00 to $16.00 and gave the company a buy rating in a report on Thursday, November 9th. Cantor Fitzgerald set a $15.00 price target on shares of Cidara Therapeutics and gave the company a buy rating in a report on Tuesday, November 28th. One equities research analyst has rated the stock with a sell rating, one has assigned 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 an average price target of $12.93.

Cidara Therapeutics (NASDAQ CDTX) traded up $0.33 during trading on Tuesday, hitting $7.38. 106,446 shares of the stock were exchanged, compared to its average volume of 86,286. The company has a market cap of $149.76 and a P/E ratio of -2.18. The company has a quick ratio of 7.69, a current ratio of 7.69 and a debt-to-equity ratio of 0.16. Cidara Therapeutics has a fifty-two week low of $5.60 and a fifty-two week high of $11.75.

Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.21. equities research analysts anticipate that Cidara Therapeutics will post -3.31 EPS for the current year.

In other news, major shareholder Target N. V. Biotech bought 60,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were acquired at an average cost of $7.57 per share, for a total transaction of $454,200.00. Following the purchase, the insider now owns 2,295,272 shares of the company’s stock, valued at approximately $17,375,209.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 18.90% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. grew its stake in Cidara Therapeutics by 37.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 23,985 shares of the biotechnology company’s stock valued at $194,000 after buying an additional 6,500 shares during the last quarter. OxFORD Asset Management LLP grew its stake in Cidara Therapeutics by 69.1% in the 3rd quarter. OxFORD Asset Management LLP now owns 22,181 shares of the biotechnology company’s stock valued at $187,000 after buying an additional 9,065 shares during the last quarter. Citadel Advisors LLC acquired a new position in Cidara Therapeutics in the 2nd quarter valued at $129,000. JPMorgan Chase & Co. grew its stake in Cidara Therapeutics by 77.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 41,266 shares of the biotechnology company’s stock valued at $328,000 after buying an additional 18,001 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new position in Cidara Therapeutics in the 2nd quarter valued at $350,000. Institutional investors and hedge funds own 55.45% of the company’s stock.

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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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