Cidara Therapeutics (NASDAQ:CDTX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $7.75 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 5.01% from the company’s previous close.
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. “
A number of other equities research analysts have also recently commented on the company. HC Wainwright raised their price objective on Cidara Therapeutics from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. Cantor Fitzgerald set a $15.00 price objective on Cidara Therapeutics and gave the company a “buy” rating in a research note on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Cidara Therapeutics presently has an average rating of “Buy” and a consensus price target of $12.93.
Shares of Cidara Therapeutics (NASDAQ CDTX) traded up $0.32 during trading on Tuesday, reaching $7.38. The company’s stock had a trading volume of 106,400 shares, compared to its average volume of 86,286. 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 12-month low of $5.60 and a 12-month high of $11.75. The firm has a market capitalization of $149.26 and a PE ratio of -2.18.
Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.73) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.94) by $0.21. analysts expect that Cidara Therapeutics will post -3.31 earnings per share for the current fiscal year.
In other news, major shareholder Target N. V. Biotech acquired 60,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was purchased at an average cost of $7.57 per share, for a total transaction of $454,200.00. Following the acquisition, the insider now owns 2,295,272 shares of the company’s stock, valued at $17,375,209.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 company. OxFORD Asset Management LLP boosted its holdings in shares of Cidara Therapeutics by 69.1% in the 3rd quarter. OxFORD Asset Management LLP now owns 22,181 shares of the biotechnology company’s stock worth $187,000 after purchasing an additional 9,065 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Cidara Therapeutics by 77.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 41,266 shares of the biotechnology company’s stock valued at $328,000 after acquiring an additional 18,001 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Cidara Therapeutics by 37.2% during 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 acquiring an additional 6,500 shares during the period. Broadfin Capital LLC boosted its holdings in Cidara Therapeutics by 45.0% during the 2nd quarter. Broadfin Capital LLC now owns 816,275 shares of the biotechnology company’s stock valued at $6,122,000 after acquiring an additional 253,400 shares during the period. Finally, Susquehanna International Group LLP purchased a new stake in Cidara Therapeutics during the 2nd quarter valued at about $350,000. Hedge funds and other institutional investors 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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