Cidara Therapeutics’ (CDTX) “Hold” Rating Reaffirmed at Needham & Company LLC

by · The Markets Daily

Needham & Company LLC restated their hold rating on shares of Cidara Therapeutics (NASDAQ:CDTX – Free Report) in a research note published on Friday morning, MarketBeat reports.

CDTX has been the topic of several other research reports. JPMorgan Chase & Co. started coverage on Cidara Therapeutics in a research note on Friday, October 10th. They set an “overweight” rating and a $200.00 price target on the stock. WBB Securities boosted their price target on shares of Cidara Therapeutics from $123.00 to $199.00 and gave the company a “strong-buy” rating in a report on Thursday, October 9th. Morgan Stanley assumed coverage on shares of Cidara Therapeutics in a research note on Thursday, October 16th. They set an “overweight” rating and a $190.00 price objective on the stock. Royal Bank Of Canada boosted their price objective on shares of Cidara Therapeutics from $137.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cidara Therapeutics in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $156.11.

Check Out Our Latest Research Report on Cidara Therapeutics

Cidara Therapeutics Stock Up 105.4%

CDTX traded up $111.72 on Friday, hitting $217.71. The company had a trading volume of 17,287,660 shares, compared to its average volume of 813,001. The business’s fifty day simple moving average is $95.60 and its 200 day simple moving average is $61.73. Cidara Therapeutics has a 12-month low of $13.90 and a 12-month high of $218.85. The company has a market cap of $6.84 billion, a PE ratio of -18.48 and a beta of 1.32.

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

Insider Activity at Cidara Therapeutics

In other news, insider Nicole Negar Davarpanah sold 474 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $62.86, for a total transaction of $29,795.64. Following the sale, the insider owned 31,418 shares of the company’s stock, valued at $1,974,935.48. This trade represents a 1.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Cidara Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank purchased a new stake in Cidara Therapeutics during the 2nd quarter worth approximately $28,000. Tower Research Capital LLC TRC raised its stake in Cidara Therapeutics by 66.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,556 shares of the biotechnology company’s stock valued at $76,000 after purchasing an additional 623 shares during the last quarter. Trifecta Capital Advisors LLC purchased a new position in Cidara Therapeutics in the 2nd quarter valued at $49,000. California State Teachers Retirement System acquired a new stake in Cidara Therapeutics during the 2nd quarter worth $51,000. Finally, Raymond James Financial Inc. grew its holdings in shares of Cidara Therapeutics by 35.6% during the third quarter. Raymond James Financial Inc. now owns 4,060 shares of the biotechnology company’s stock worth $389,000 after buying an additional 1,066 shares in the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

About Cidara Therapeutics

(Get Free Report)

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.

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