Cidara Therapeutics (NASDAQ:CDTX) has been given a $15.00 price objective by stock analysts at Cantor Fitzgerald in a research report issued to clients and investors on Friday. The firm currently has a “buy” rating on the biotechnology company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 108.33% from the stock’s previous close.
The analysts wrote, “We are positive on Cidara ahead of Phase 2 CD101 IV data (STRIVE study) for the treatment of systemic infections in early to mid-March. Our estimate on the timing of data release stems from the fact that the last patient, last visit (LPLV) was last week.””
CDTX has been the topic of a number of other research reports. Zacks Investment Research lowered Cidara Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, January 12th. HC Wainwright upped their price objective on Cidara Therapeutics from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $12.93.
Cidara Therapeutics (NASDAQ:CDTX) remained flat at $$7.20 during trading hours on Friday. 35,400 shares of the company traded hands, compared to its average volume of 77,217. The firm has a market cap of $145.71 and a price-to-earnings ratio of -2.12. 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 one year low of $5.60 and a one year high of $11.75.
Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.73) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.94) by $0.21. research analysts expect that Cidara Therapeutics will post -3.31 earnings per share for the current year.
In related news, major shareholder Target N. V. Biotech acquired 60,000 shares of Cidara Therapeutics stock in a transaction dated Wednesday, November 15th. The shares were acquired at an average cost of $7.57 per share, for a total transaction of $454,200.00. Following the completion of the transaction, the insider now directly owns 2,295,272 shares of the company’s stock, valued at $17,375,209.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 18.90% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC acquired a new stake in Cidara Therapeutics during the second quarter worth about $129,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Cidara Therapeutics during the second quarter worth about $131,000. OxFORD Asset Management LLP increased its stake in Cidara Therapeutics by 69.1% during the third 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 during the last quarter. JPMorgan Chase & Co. increased its stake in Cidara Therapeutics by 77.4% during the third 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 during the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in Cidara Therapeutics during the second quarter worth about $350,000. Hedge funds and other institutional investors own 55.45% of the company’s stock.
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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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