Cidara Therapeutics (NASDAQ:CDTX) Price Target Raised to $145.00 at Royal Bank Of Canada

Cidara Therapeutics (NASDAQ:CDTX) had its target price hoisted by Royal Bank Of Canada from $137.00 to $145.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the biotechnology company’s stock.

CDTX has been the subject of several other research reports. JMP Securities set a $173.00 price target on shares of Cidara Therapeutics and gave the stock a “market outperform” rating in a research report on Friday, October 3rd. Morgan Stanley began coverage on shares of Cidara Therapeutics in a report on Thursday, October 16th. They set an “overweight” rating and a $190.00 target price for the company. JPMorgan Chase & Co. assumed coverage on shares of Cidara Therapeutics in a research report on Friday, October 10th. They set an “overweight” rating and a $200.00 target price for the company. Guggenheim set a $167.00 price objective on Cidara Therapeutics and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cidara Therapeutics in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Cidara Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.11.

Cidara Therapeutics Price Performance

Shares of CDTX stock traded up $5.75 on Friday, reaching $104.39. 955,035 shares of the stock were exchanged, compared to its average volume of 867,684. Cidara Therapeutics has a one year low of $12.89 and a one year high of $121.21. The stock has a market cap of $2.65 billion, a PE ratio of -8.86 and a beta of 1.32. The stock has a 50 day moving average price of $89.16 and a 200 day moving average price of $58.01.

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

Insider Buying and Selling

In other Cidara Therapeutics news, insider Nicole Negar Davarpanah sold 474 shares of Cidara Therapeutics stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $62.86, for a total value of $29,795.64. Following the transaction, the insider owned 31,418 shares of the company’s stock, valued at approximately $1,974,935.48. The trade was a 1.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.89% of the company’s stock.

Institutional Investors Weigh In On Cidara Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CDTX. West Michigan Advisors LLC acquired a new position in Cidara Therapeutics in the 1st quarter worth $291,000. Vivo Capital LLC grew its holdings in shares of Cidara Therapeutics by 2.0% during the first quarter. Vivo Capital LLC now owns 684,276 shares of the biotechnology company’s stock worth $14,739,000 after buying an additional 13,676 shares in the last quarter. Aberdeen Group plc acquired a new stake in Cidara Therapeutics in the 1st quarter valued at approximately $2,604,000. American Century Companies Inc. bought a new stake in Cidara Therapeutics in the 1st quarter valued at approximately $224,000. Finally, OMERS ADMINISTRATION Corp boosted its position in Cidara Therapeutics by 53.2% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 19,300 shares of the biotechnology company’s stock worth $416,000 after acquiring an additional 6,700 shares during the last quarter. 35.82% of the stock is currently owned by institutional investors and hedge funds.

Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates.