Cidara Therapeutics (NASDAQ:CDTX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
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. “
CDTX has been the subject of several other research reports. Cantor Fitzgerald set a $15.00 price target on shares of Cidara Therapeutics and gave the company a “buy” rating in a research report on Tuesday, November 28th. HC Wainwright upped their price target on shares of Cidara Therapeutics from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, November 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $12.93.
Shares of Cidara Therapeutics (CDTX) opened at $7.55 on Friday. Cidara Therapeutics has a 52-week low of $5.60 and a 52-week high of $11.75. The company has a current ratio of 7.69, a quick ratio of 7.69 and a debt-to-equity ratio of 0.16.
Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.73) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.94) by $0.21. sell-side 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 bought 60,000 shares of Cidara Therapeutics stock in a transaction that occurred on Wednesday, November 15th. The stock was bought at an average cost of $7.57 per share, with a total value of $454,200.00. Following the acquisition, the insider now owns 2,295,272 shares of the company’s stock, valued at approximately $17,375,209.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 18.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC purchased a new stake in Cidara Therapeutics in the 2nd quarter worth approximately $129,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Cidara Therapeutics in the 2nd quarter worth approximately $131,000. OxFORD Asset Management LLP increased its holdings in 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 acquiring an additional 9,065 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Cidara Therapeutics by 77.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 41,266 shares of the biotechnology company’s stock worth $328,000 after acquiring an additional 18,001 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new stake in Cidara Therapeutics in the 2nd quarter worth approximately $350,000. 55.45% of the stock is owned by institutional investors.
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Cidara Therapeutics Company Profile
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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