Zacks Investment Research downgraded shares of Cidara Therapeutics (NASDAQ:CDTX) from a buy rating to a hold rating in a research report sent to investors on Friday, January 12th.
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. “
Other equities research analysts have also issued reports about the company. HC Wainwright raised their target price on Cidara Therapeutics from $14.00 to $16.00 and gave the company a buy rating in a research report on Thursday, November 9th. Cantor Fitzgerald set a $15.00 target price on Cidara Therapeutics and gave the company a buy rating in a research report on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Cidara Therapeutics currently has an average rating of Buy and a consensus price target of $12.93.
Shares of Cidara Therapeutics (CDTX) traded up $0.10 during trading on Friday, hitting $7.00. The stock had a trading volume of 88,851 shares, compared to its average volume of 82,740. Cidara Therapeutics has a 1 year low of $5.60 and a 1 year high of $11.75. The stock has a market cap of $141.67 and a price-to-earnings ratio of -2.06. 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 announced its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.94) by $0.21. equities analysts forecast that Cidara Therapeutics will post -3.31 EPS for the current fiscal year.
In other news, major shareholder Target N. V. Biotech acquired 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was bought at an average price of $7.57 per share, with a total value of $454,200.00. Following the acquisition, the insider now owns 2,295,272 shares in the company, valued at approximately $17,375,209.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 18.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. boosted its stake in Cidara Therapeutics by 37.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 23,985 shares of the biotechnology company’s stock worth $194,000 after purchasing an additional 6,500 shares during the period. OxFORD Asset Management LLP boosted its stake 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 purchasing an additional 9,065 shares during the period. Citadel Advisors LLC bought a new position in Cidara Therapeutics in the 2nd quarter worth about $129,000. JPMorgan Chase & Co. boosted its stake 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 purchasing an additional 18,001 shares during the period. Finally, Susquehanna International Group LLP bought a new position in Cidara Therapeutics in the 2nd quarter worth about $350,000. Institutional investors and hedge funds 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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