Shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) have received an average rating of “Buy” from the twelve brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $13.80.
CDTX has been the subject of several research analyst reports. Zacks Investment Research upgraded Cidara Therapeutics from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research report on Wednesday, October 25th. Cantor Fitzgerald reiterated a “buy” rating and issued a $15.00 price objective on shares of Cidara Therapeutics in a research report on Tuesday, September 26th. WBB Securities upgraded Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Finally, ValuEngine upgraded Cidara Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, July 14th.
In related news, CEO Jeffrey Stein acquired 7,350 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were acquired at an average price of $6.79 per share, with a total value of $49,906.50. Following the completion of the purchase, the chief executive officer now directly owns 51,851 shares in the company, valued at $352,068.29. The purchase was disclosed in a document filed with the SEC, which is available through this link. 18.90% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Cidara Therapeutics by 37.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 23,985 shares of the biotechnology company’s stock valued at $194,000 after acquiring an additional 6,500 shares during the last quarter. Broadfin Capital LLC boosted its stake in Cidara Therapeutics by 45.0% in the 2nd quarter. Broadfin Capital LLC now owns 816,275 shares of the biotechnology company’s stock worth $6,122,000 after buying an additional 253,400 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in Cidara Therapeutics in the 2nd quarter worth about $350,000. Goldman Sachs Group Inc. acquired a new stake in Cidara Therapeutics in the 2nd quarter worth about $650,000. Finally, Citadel Advisors LLC acquired a new stake in Cidara Therapeutics in the 2nd quarter worth about $129,000. 66.11% of the stock is currently owned by institutional investors and hedge funds.
Cidara Therapeutics (NASDAQ:CDTX) traded down $0.10 during trading on Monday, hitting $8.00. The stock had a trading volume of 28,443 shares, compared to its average volume of 83,373. Cidara Therapeutics has a twelve month low of $5.60 and a twelve month high of $11.85. The company has a debt-to-equity ratio of 0.15, a current ratio of 7.49 and a quick ratio of 7.49.
Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.99) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.91) by ($0.08). sell-side analysts anticipate that Cidara Therapeutics will post -3.59 EPS for the current fiscal year.
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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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