Cidara Therapeutics, Inc. (NASDAQ:CDTX) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have been assigned a consensus recommendation of “Hold” from the twelve analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $156.1111.

CDTX has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Cidara Therapeutics to a “sell” rating in a research report on Saturday, January 10th. Guggenheim cut shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, November 18th. HC Wainwright lowered Cidara Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, November 14th. Citigroup reaffirmed a “market outperform” rating on shares of Cidara Therapeutics in a report on Tuesday, October 21st. Finally, Royal Bank Of Canada lowered Cidara Therapeutics from an “outperform” rating to a “sector perform” rating in a research note on Monday, November 17th.

Insider Transactions at Cidara Therapeutics

In other Cidara Therapeutics news, COO Shane Ward sold 9,959 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $220.08, for a total transaction of $2,191,776.72. Following the sale, the chief operating officer owned 25,033 shares of the company’s stock, valued at $5,509,262.64. This represents a 28.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cidara Therapeutics

A number of large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its holdings in shares of Cidara Therapeutics by 203.8% in the first quarter. Goldman Sachs Group Inc. now owns 42,143 shares of the biotechnology company’s stock valued at $908,000 after purchasing an additional 28,273 shares in the last quarter. Jane Street Group LLC boosted its position in Cidara Therapeutics by 119.0% in the 1st quarter. Jane Street Group LLC now owns 27,849 shares of the biotechnology company’s stock valued at $600,000 after buying an additional 15,135 shares during the last quarter. Trifecta Capital Advisors LLC bought a new position in Cidara Therapeutics in the 2nd quarter valued at $49,000. Aberdeen Group plc increased its stake in shares of Cidara Therapeutics by 115.0% in the 2nd quarter. Aberdeen Group plc now owns 259,916 shares of the biotechnology company’s stock valued at $12,661,000 after buying an additional 139,037 shares during the period. Finally, West Michigan Advisors LLC raised its position in shares of Cidara Therapeutics by 22.2% during the second quarter. West Michigan Advisors LLC now owns 16,500 shares of the biotechnology company’s stock worth $804,000 after acquiring an additional 3,000 shares during the last quarter. 35.82% of the stock is currently owned by institutional investors and hedge funds.

Cidara Therapeutics Price Performance

Shares of CDTX stock opened at $221.38 on Friday. The stock’s fifty day simple moving average is $220.89 and its 200 day simple moving average is $139.00. Cidara Therapeutics has a one year low of $15.22 and a one year high of $221.42. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of -18.79 and a beta of 1.52.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.24). On average, research analysts anticipate that Cidara Therapeutics will post -8.74 earnings per share for the current year.

About Cidara Therapeutics

Cidara Therapeutics, Inc is a clinical‐stage biotechnology company focused on the discovery and development of long‐acting anti‐infectives and immunotherapies to address life‐threatening fungal, viral and bacterial infections. The company’s core technology platforms, including its proprietary CD‐MONT and Cloudbreak platforms, are designed to create novel therapeutic candidates with extended half‐lives and differentiated mechanisms of action. By leveraging its expertise in macromolecular conjugates and immunotherapeutic design, Cidara seeks to offer new treatment options that can reduce dosing frequency and improve patient outcomes in critical care settings.

The company’s lead asset, rezafungin, is a once‐weekly intravenous echinocandin antifungal in late‐stage development for the prevention and treatment of invasive candidiasis and other serious fungal infections.